A recession is best defined as a period during which:
a. the percentage of the population employed increases.
b. employment, output, and income decrease
c. the average price level in an economy decreases.
d. the usage of labor and capital resources increases.
e. budget deficit and trade deficit decrease.
b
Economics
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The opportunity cost of attending a college basketball game tonight would increase if: a. Your friend offers to pay you more for your ticket, because he really wants to go
b. Your favorite player on the teams is injured and will not play tonight. c. Your economics TA decides to offer a review session, for which attendance will count 10% of your course grade, at the same time as the game d. Either a. or c. occurs
Economics
When no economic growth occurs in an economy, the growth rate trend line is horizontal
Indicate whether the statement is true or false
Economics