A downturn in the economy occurs when real GDP
a. declines, inflation moderates, and full employment exists
b. declines, inflation occurs, and unemployment emerges
c. declines, inflation moderates, and unemployment emerges
d. is sustained at a relatively high level, but inflation moderates, and unemployment emerges
e. is sustained at a relatively high level with full employment, but inflation moderates
C
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If there is public dissaving, investment spending in the economy will decline, holding everything else constant
Indicate whether the statement is true or false
The primary explanation for why a regulatory commission may protect the monopoly it is supposed to regulate is that the commission members
a. regularly receive gifts and bribes b. are incompetent c. are experts sympathetic to industry management d. work to increase industry competition e. are directly accountable to the public