Which of the following statements about leading economic indicators is true?
a. They foreshadow turning points in the business cycle.
b. Most people refer to them before making any important spending decision.
c. They indicate when an economy is in a recession or an expansion.?
d. They are the only economic indicators available to economists.?
e. They can predict precisely when turning points in an economy will occur.?
Answer: a. They foreshadow turning points in the business cycle.
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Usury laws are often politically popular because
a. few people sympathize with banks and other lenders who are suspected of price gouging. b. consumers are in favor of the lower lending rates. c. those concerned with affordable housing for the poor favor ceilings on mortgage rates. d. All of the above are correct.
The current unionization rate for the U.S. labor force
A. Reflects the relative decline in U.S. manufacturing. B. Has increased due to the growth of the service sector. C. Is above 20 percent. D. Has been rising since the mid