What is the difference between a business cycle and the day-to-day ups and downs of the market?
What will be an ideal response?
Answer: A business cycle is a major, prolonged fluctuation rather than a day-to-day movement.
Economics
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Explain the moral hazard that automobile insurance companies face. What methods do they employ to try to mitigate this problem? Explain carefully
What will be an ideal response?
Economics
If the government could raise taxes on one good, which product should the government increase tax rates in order to raise tax revenue?
a. Cigarettes b. Alcohol c. Sodas d. None of the above
Economics