The standard definition of "recession" is
A) a period of a positive frictional unemployment rate.
B) two consecutive quarters of falling Real GDP.
C) the lowest point in a business cycle.
D) a period of negative inflation.
B
Economics
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Which of the following items is the one type of household expenditure that is categorized as investment rather than consumption?
a. spending on education b. the purchase of stocks and bonds c. the purchase of a new house d. the purchase of durable goods such as stoves and washing machines
Economics
Which of the following would most likely exhibit the highest price elasticity of demand?
A) gasoline B) Colgate toothpaste C) motor oil D) salt
Economics