What is the business cycle?
A) The expansionary and contractionary phases in the growth rate of Real GDP.
B) The expansionary and contractionary phases in the rate of unemployment.
C) The continuous rise in GDP that Canada has experienced throughout the Twentieth Century.
D) The rise and fall in the rate of inflation.
Correct Answer:
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Q1: Which of the following is true regarding
Q2: All of the following,except one,are possible causes
Q4: Why is the AS curve upward-sloping?
A)Because,since nominal
Q5: At low levels of Real GDP,what is
Q6: What is Potential GDP?
A)The total amount of
Q7: What is aggregate supply?
A)The aggregate quantity produced
Q8: Which of the following statements is true
Q9: If the economy is close to full
Q10: What does the LAS curve reflect?
A)The effect
Q11: All of the following,except one,refer to the
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