Essential components of a game include all of the following except:

Policies adopted by the Truman administration effectively avoided inflation during the Korean War. These policies included:

a. increased personal and corporate tax rates. b. price and wage controls. c. reduced purchases of government debt by the Federal Reserve. d. discontinuance of the practice of "pegging" interest rates. e. All of the above.

When the economy reaches a trough in a business cycle, which of the following will occur?

A) Income, production, and employment will continue to fall. B) Income, production, and employment will begin to rise. C) Income and production will rise, but employment will continue to fall. D) Employment rises, but income and production will continue to fall.