Business cycles in the United States
A. Are similar in frequency and intensity.
B. Are remarkably similar in length but vary greatly in intensity.
C. Are similar in length, frequency, and intensity.
D. Vary greatly in length, frequency, and intensity.
Answer: D
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Which of the following would cause a decrease in the equilibrium price and decrease in the equilibrium quantity of papayas?
A) a decrease in supply and a decrease in demand B) an increase in supply and an increase in demand greater than the increase in supply C) a decrease in supply and an increase in demand D) a decrease in demand
What causes a country to specialize in certain products?
(A) The ability to trade with other nations. (B) The interests of the citizens. (C) The resources of the nation. (D) The money it can earn from producing particular products.