Which famous company executive introduced an innovative pay system that is consistent with the theory of efficiency wages?

Which of the following is NOT part of the business cycle?

A) recession B) expansion C) peak D) trough E) inflation

A country with high economic growth:

A. will definitely experience high economic development. B. will never experience high economic development. C. not necessarily will experience high economic development. D. may not experience economic development without attention paid to policy actions.