The term "business cycle" refers to ________
A) the opening and eventual closing down of businesses
B) the rising and later declining of the purchasing power of the dollar
C) the acquiring of raw materials and ultimate selling of a finished product
D) the tendency for rich economies to be inevitably out-paced by other economies
E) the slowing and eventual accelerating of economic growth
E
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The official settlements account is the record of
A) payments for imports, receipts for exports, net interest, and net transfers. B) changes in the government's holdings for foreign currency. C) exports of capital goods minus imports of capital goods. D) foreign investment in the nation minus the nation's investment abroad. E) a nation's international trading, borrowing and lending.
Individuals who specialize in activities that lower transaction costs are
A) consumers. B) producers. C) bureaucrats. D) middlemen.