In reference to short-term economic fluctuations, the "peak" refers to:
A. a period in which the economy is growing at a rate significantly above normal.
B. the high point of economic activity prior to a downturn.
C. a particularly strong and protracted expansion.
D. the high point of economic activity prior to a recovery.
Answer: B
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Monopoly powers given to domestic utility companies to create economies-of-scale might unintentionally
A) be an obstacle to increased international trade. B) be useful for the creation of a comparative advantage for the domestic country. C) not be used for rent-seeking behaviors. D) be a positive externality for the world as a whole. E) None of the above.
(Consider This) Credit card balances are:
A. a component of M1. B. a component of M2 but not of M1. C. a component of M1 but not of M2. D. not a component of M1 or M2.