A recession is a decline in:
A. The inflation rate that lasts six months or longer
B. The unemployment rate that lasts six months or longer
C. Real GDP that lasts six months or longer
D. Potential GDP that lasts six months or longer
C. Real GDP that lasts six months or longer
Economics
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Evidence shows that flexible exchange rates have created a destabilizing speculation in the foreign exchange market
Indicate whether the statement is true or false
Economics
A local government currently has a tax base of $4 billion and a tax rate of 5 percent. If the tax rate is increased to 6 percent, the tax base will decrease to $3.5 billion. If the goal is to maximize tax revenues the tax rate should be
A) lowered below 5 percent. B) kept at 5 percent. C) raised to 6 percent. D) abolished.
Economics