What you mean by business cycles? What are their consequences?
What will be an ideal response?
Business cycles are periodic upswings and downswings in economic growth. One important consequence of these ups and downs in economic growth is that employment varies considerably from one year to the next.
Economics
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The downward-sloping portion of the marginal cost curve is the only portion that matters in production
Indicate whether the statement is true or false
Economics
Which of the following would cause both the equilibrium price and equilibrium quantity of oysters (assume that oysters are a normal good) to decrease?
A) an increase in consumer income B) an oil spill that sharply reduces oyster output C) a decrease in consumer income D) a technological advancement in the production of oysters
Economics