A recession can best be defined as a period of time in which
a. total output of the economy falls.
b. total output of the economy rises very slowly.
c. total unemployment falls.
d. total international trade fails to rise.
e. Both a and c
a
Economics
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The fastest growing nations today
A) are not saving but instead are investing. B) have the government directing all their research and development. C) have non-democratic political systems. D) have the fastest growing exports and imports. E) have erected many trade barriers to protect domestic firms.
Economics
An increase in the costs of resources or inputs of production would shift the:
A) short-run aggregate supply curve rightward. B) short-run aggregate supply curve leftward. C) long-run aggregate supply curve rightward. D) long-run aggregate supply curve leftward.
Economics