The quantity of RGDP supplied will decrease in both the short run and long run when the price level falls

The gains from trade within a price system is

A) the sum of consumer surplus and producer surplus. B) consumer surplus less producer surplus. C) consumer surplus divided by producer surplus. D) consumer surplus multiplied by producer surplus.

Recessions begin at ________ and end at ________.

A. a peak; a trough B. the highest unemployment rate; the lowest unemployment rate C. a trough; a peak D. the lowest unemployment rate; the highest unemployment rate