A boom is:
A. a period in which the economy is growing at a rate significantly below normal.
B. the high point of economic activity prior to a downturn.
C. a particularly strong and protracted expansion.
D. a particularly severe and protracted recession.
Answer: C
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Under the current managed float exchange rate regime, countries with balance of payments deficits frequently do not want to see their currencies depreciate because it makes ________ goods more expensive for ________ consumers and can stimulate
inflation. A) foreign; foreign B) foreign; domestic C) domestic; foreign D) domestic; domestic
Which of the following is true in the short run? a. The aggregate supply curve is horizontal
b. The aggregate supply curve is vertical. c. Per-unit costs do not increase as much as output prices when the price level rises. d. An increase in price per unit results in a decrease in profit per unit. e. Firms' total costs of production decrease as output expands beyond the potential level.