Which of the following statements is FALSE?
A) Short- term ups and downs in the economy are known as business cycles.
B) Business cycles are always symmetric - the length of an expansion is the same as the length of a contraction.
C) The rate of change in economic activity is used to assess whether an economy is expanding or contracting.
D) During a recession, output and employment are falling.
Correct Answer:
Verified
Q1: Which of the following is NOT one
Q3: When injections exceed withdrawals, total output will:
A)
Q4: Which of the following is likely to
Q5: Consider the household sector. According to the
Q6: To distinguish between nominal and real figures
Q7: The labour force is the:
A) number of
Q8: The period in the business cycle from
Q9: Which of the following is not regarded
Q10: Potential economic growth is:
A) the percentage annual
Q11: A household that spends less than it
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