Economists use the term "business cycle" to refer to
a. the growth of small businesses into major corporations.
b. changes in products that occur from improved technology.
c. fluctuations in the level of real output and employment.
d. periods of increases and decreases in the rate of inflation.
C
Economics
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As an individual consumes more of a good, the marginal utility of that good declines
a. True b. False Indicate whether the statement is true or false
Economics
The restaurant, legal assistance, and clothing industries are each illustrations of:
A. countervailing power. B. homogeneous oligopoly. C. monopolistic competition. D. pure monopoly.
Economics