Suppose the country of Dingo experienced an economic trough in January 2011. We can conclude that
A) real GDP in Dingo was increasing in January 2011.
B) an expansion occurred after January 2011.
C) Dingo did not experience a recession in 2010.
D) Dingo's potential GDP fell in 2011.
B
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An economic community
(a) attempts to raise prices by restricting quantity. (b) seeks to stabilize commodity prices. (c) seeks concessional loans. (d) imposes a common external tariff. (e) none of the above.
Which of the following statements best describes the difference between economic regulation and social regulation?
a. Economic regulation has little to do with price and output while social regulation explicitly deals with price and output. b. Social regulation is concerned with direct redistribution of wealth while economic regulation is concerned with accumulation of wealth. c. Economic regulation is concerned with direct redistribution of wealth while social regulation is concerned with accumulation of wealth. d. Social regulation has historically targeted industries such as railroads and airlines while economic regulation has all the industries under its purview. e. Economic regulation deals with price and output , while social regulation deals with health and safety matters that apply across several industries.