The highest and lowest levels of economic activity during the business cycle are called
a. peaks and troughs.
b. expansions and contractions.
c. nadirs and zeniths.
d. leading and lagging indicators.
a. peaks and troughs.
Economics
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A fall in the price level will: a. cause an upward movement upward along the aggregate demand curve. b. cause a downward movement along the aggregate demand curve
c. cause a leftward shift of the aggregate demand curve. d. cause a rightward shift of the aggregate demand curve. e. have no impact on the aggregate demand curve.
Economics
A positive economic statement is:
a. an opinion of an action that should be taken. b. an action that will have a positive effect on the economy. c. a statement testable by facts. d. a claim that the speaker is positive will occur. e. always a microeconomic position.
Economics