In September 2010, the NBER's Business Cycle Dating Committee decided that the recession that began in December of 2007 had ended and that the lowest point of production was July of 2009. The NBER does not use a popular definition of recession-two quarters of falling GDP-but looks at a variety of monthly statistics to date business cycles. In business cycle terminology, what does July 2009 mark?
A. The duration of the recession
B. The peak of the cycle
C. The trough of the cycle
D. The depression of the cycle
Answer: C
Economics
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What effect does the payment of government unemployment insurance have on the unemployment rate?
What will be an ideal response?
Economics
In a Bertrand model with differentiated products
A) firms can set price above marginal cost. B) firms set price at marginal cost. C) price is independent of marginal cost. D) firms set price independently of one another.
Economics