An expansion
A) follows a peak.
B) is defined as a period of negative real GDP growth.
C) comes just before a trough.
D) is defined as a period of real GDP increases.
D
Economics
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Refer to Figure 18.3. The opportunity cost of producing pogo sticks in Livonia is
A) 2/3 of a scooter. B) 4/5 of a scooter. C) 6/5 scooters. D) 1.25 scooters.
Economics
Suppose there is a labor shortage. Wages will ____ and the SRAS curve will shift ____
a. rise; left b. fall; left c. fall; right d. rise; right
Economics