Elucidate the overview of Business Cycle
Elucidate the overview of Business Cycle?
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1. The United States’ impressive long run economic growth has been interrupted by periods of instability.
2. Uneven growth has been the pattern, with inflation often accompanying rapid growth, and declines in employment and output during periods of recession and depression.
If the price of a good is given, how does a consumer choose/decide as to how much of that good to purchase?
An increase within demand for "green-certified" products will ________ a firm's economic profit, and the raise within costs to have a product certified like "green" will ________ a firm's economic profit: w) increase; increase x) increase; decrease y)
The study of economics is MOST frequently divided within: (1) positive economics and negative economics. (2) macroeconomics and microeconomics. (3) subjective economics and objective economics. (4) supply side and demand side economics. (5) conservative economics and
What are the 2 definitions of economics growth?
The clearest illustration of economic inefficiency would be: (w) maintaining a warehouse full of pet rocks within hopes such that someday the fad will return. (x) pet rocks being unavailable to people willing to pay a price that exceeds the marginal s
Illustrate the Law of supply?
What divergences arise between equilibrium and an efficient output when spillover costs? How might government correct this divergence?
Explain producers in an industry are receiving pure or economic profits?
Provide some sources of not tax revenue? Answer: Escheat, income from public enterprises, special assessment, fees and fines and so on.
Why is the problem of unemployment a part of the subject matter of economics?
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