The defining features of business cycles is that they

A. are inherently bad
B. represent the underlying trend of real GDP
C. are fluctuations about trend of real GDP
D. measure prospects for future growth in the economy

Answer: C. are fluctuations about trend of real GDP

Economics

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Identify the characteristics of a monopoly firm

a. The existence of barriers to entry and production of a homogeneous product b. The production of a unique product and a large number of sellers in the market c. The production of a standardized product and the firm is a price taker d. The existence of barriers to entry and the firm is a price taker e. The existence of barriers to entry and the firm is a price maker

Economics

The wealthy nations of the world have

A. the largest populations. B. more supplies of natural resources. C. more supplies of capital. D. larger labor forces.

Economics