The U.S. business cycle record, in common with most, has
A) peaks lasting longer than troughs.
B) troughs lasting longer than peaks.
C) recessions lasting longer than expansions.
D) expansions lasting longer than recessions.
D
Economics
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The country of Kemper is on its aggregate production function at point W in the above figure. If the population increases with no change in capital or technology, the economy will
A) move to point such as Y. B) remain at point W. C) move to point such as X. D) move to point such as Z.
Economics
By using the ceteris paribus assumption in conjunction with a model, economists can
A) suspend the rationality assumption. B) avoid having their model depend on any additional assumptions. C) hold certain factors constant. D) be sure that the model will predict correctly.
Economics