Business cycles are best categorized as
(a) fluctuations in the production and employment levels in the business sector of the economy.
(b) major upswings and downturns in most sectors of the economy.
(c) variations in international trade.
(d) all of the above.
(b)
You might also like to view...
If market participants have rational expectations,
A) they can assume the stock prices they observe represent the fundamental values of those stocks B) they know to purchase stocks that are priced below their fundamental value C) they will achieve higher returns than those with adaptive expectations D) they can earn above-average returns on their investments
Refer to the information provided in Figure 7.6 below to answer the question(s) that follow. 
Figure 7.6Refer to Figure 7.6. If the price of capital is $10 and the price of labor is $20, the optimal production technique is
A. A. B. B. C. C. D. D.