Identify a valid trend observed in U.S. business cycles since 1933.
a. Contractions lasted for more than two years on an average.
b. There were only two or three complete cycles
c. There was no recession since 1979.
d. Expansions generally lasted longer than contractions.
e. Each cycle lasted longer than the previous one.
d
Economics
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Proponents of ISI assumed that governments
A) were capable of identifying and correcting market failures. B) were capable of identifying and correcting the excesses of economic populists. C) should enact orthodox stabilization plans. D) could control the terms of trade. E) Both A and D.
Economics
Within the framework of the Keynesian Cross model, if an economy is operating at a real GDP less than full-employment real GDP:
a. a recessionary gap exists b. an inflationary gap exists c. aggregate expenditures will rise d. the general level of prices will rise
Economics