A trough in the business cycle occurs when:
A. Cyclical unemployment is at a minimum point
B. Employment and output reach their lowest levels
C. The natural rate of unemployment is at a minimum point
D. The inflation rate is at its lowest level
B. Employment and output reach their lowest levels
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When real GDP is less than potential GDP, there is ________ which leads the unemployment rate to ________
A) a recessionary gap; rise B) a recessionary gap; decline C) an inflationary gap; rise D) an inflationary gap; remain at the natural level E) a recessionary gap; remain at the natural level
Which of the following topics is not a part of a typical scenario plan?
a. Expected changes in country infrastructure. b. Expected changes in labor-management relations. c. Expected changes in government intervention and regulations. d. Expected changes in budgets and capital budgeting projects. e. Expected changes property rights, tax policies, and risks.