Another name for the contractionary phase of a business cycle is recession
a. True
b. False
Indicate whether the statement is true or false
True
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The scientific method is more difficult for economists than, say, chemists, because:
A) controlled laboratory conditions are more problematic in economics. B) it is difficult to hold other factors that may affect the variables being studied constant in economics. C) economic conditions may change quickly and unexpectedly. D) all of the above.
If the implied exchange rate between Big Mac prices in the United States and Poland is 2.13 zlotys per dollar, but the actual exchange rate between the United States and Poland is 3
16 zlotys per dollar, which of the following would you expect to see? A) an increase in the demand for dollars B) an appreciation of the dollar C) an increase in the demand for zlotys D) Both A and C are correct.