Arthur Burns and Wesley Mitchell first described business cycles as ________
A) fluctuations in consumer preferences
B) fluctuations in the price of bicycles
C) fluctuations in aggregate economic activity
D) all of the above
E) none of the above
C
Economics
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A change in any of the ceteris paribus conditions for demand leads to a
A) a good going from an inferior good to a normal good. B) movement along the demand curve. C) shift of the demand curve. D) change in supply.
Economics
Budget cuts which lead to more lax protection of our borders will affect the labor market in California. It will cause a(n) ________ in labor supply, resulting in ________.
A. increase; higher wages B. decrease; higher wages C. decrease; lower wages D. increase; lower wages
Economics