Which of the following best describes a typical business cycle?
A) Economic expansions are followed by economic contractions.
B) Inflation is followed by unemployment.
C) Trade surpluses are followed by trade deficits.
D) Stagflation is followed by inflationary economic growth.
Correct Answer:
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Q2: The most direct effect of an increase
Q3: From 1800 to 1940,the price level in
Q4: During recessions,the unemployment rate _ and output
Q5: Short-run contractions and expansions in economic activity
Q6: When national output rises,the economy is said
Q7: Average labor productivity is the
A)amount of workers
Q8: A country is said to be experiencing
Q9: The unemployment rate is the
A)number of unemployed
Q10: The highest and most prolonged period of
Q11: The main reason that the United States
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