Recessions are typically
A) unintended and disruptive.
B) easy to predict in advance.
C) the result of non-monetary disturbances.
D) events economists have a hard time explaining.
A
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Which of the following statements is true of colonies set up in North America?
A) Production was based on defined property rights in the colonies in North America. B) The institutions set up in colonies in North America were mostly extractive. C) The institutions in these colonies were similar to other British colonies established in Jamaica and Barbados. D) Most of the people in these colonies were engaged in industrial production.
If the same dairy can produce either whole milk or skim milk, an increase in the profitability of whole milk results in a(n)
a. decrease in the quantity supplied of whole milk b. increase in the supply of whole milk c. decrease in the supply of skim milk d. increase in the supply of skim milk e. decrease in the quantity supplied of skim milk