Since 1959, the U.S. has experienced severe recessions in which three periods?

a. 1964-65, 1981-82, and 1990-91
b. 1974-75, 1981-82, and 2008-09
c. 1960-61, 1974-75, and 2008-09
d. 1960-61, 1981-82, and 2008-09
e. 1969-70, 1981-82, and 2008-09

B

Economics

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Economists regard some inflation as good for the economy

a. True b. False

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One of the defining characteristics of a perfectly competitive market is

a. both buyers and sellers are well informed about the market b. a small number of buyers c. high barriers to entry d. a small number of buyers but a large number of sellers e. buyers are better informed about the market than sellers

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