Planned investment is to expected expansion as unplanned investment is to ______.
a. most business cycles
b. marginal propensity to save
c. unforeseen recession
d. rising inventories
c. unforeseen recession
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Which of the following statements is false?
A) There are always opportunity costs to making choices. B) Because of scarcity, choices must be made. C) Elementary education at public schools is free. D) When government builds a new highway, taxpayers end up with less of some of the things they would otherwise have.
Which of the following does not describe a characteristic of short-term economic fluctuations?
A. Expansions and recessions are felt in only a few sectors of the economy. B. The unemployment rate rises during recessions. C. Durable-goods industries are more sensitive to short-term fluctuations than service and non-durable industries. D. Expansions and recessions are irregular in length and severity.