During a recession, cyclical unemployment ________ and real GDP ________
A) increases; increases
B) increases; decreases
C) decreases; decreases
D) decreases; increases
E) does not change; decreases
B
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A price below the equilibrium price results in
A) a surplus. B) a shortage. C) excess supply. D) a further price fall.
Which of the following best describes a graph showing the supply and demand for foreign exchange?
a. The quantity of foreign exchange is on the horizontal axis and the quantity of the domestic currency is on the vertical axis. b. The quantity of the domestic currency is on the horizontal axis and the quantity of foreign exchange is on the vertical axis. c. The quantity of foreign exchange is on the horizontal axis and the price of foreign exchange in terms of the domestic currency is on the vertical axis. d. The quantity of foreign exchange is on the vertical axis and the price of foreign exchange in terms of the domestic currency is on the horizontal axis. e. The quantity of the domestic currency is on the horizontal axis and the price of foreign exchange in terms of dollars is on the vertical axis.