What are the characteristics of a business cycle
What are the characteristics of a business cycle?
Expert
Characteristics of a business cycle are as follows:
1. This is synchronic. The downward and upward movements tend to arise at all similar period in all industries. The waves of depression or prosperity generate a wave in another industry. While industry picks up to provide more service and more income and so forth to workers and this provides new orders for capital goods and raw materials. It helps other firms to prosper as well.
2. The cycle is a wave-as movement. The era of prosperity and depression can be alternately considered in a cycle.
3. Cyclical fluctuations are recurring within nature. The different phases are repeated is followed through depression and the depression again in followed through a boom.
4. In nature business cycles are cumulative and self –reinforcing. All movements feed on itself and keep up the movement in similar direction. Once booms starts this goes on growing until forces accumulate to reverse the direction.
5. There can be no indefinite eternal or depression boom period. All phase include in itself the seed for other phase. So, the boom, when this reaches its peak, turns to recession.
6. Business cycles are pervasive within their effects. The cyclical fluctuations influence each and every part of the economy. Prosperity or depression felt in one part of the economy makes its impact in other part as well. The cyclical movements are still international in nature. The mechanism of international trade creates the boom or depression in one country shared though other countries also.
7. Presence of a crisis. The down and up movements are not symmetrical. There downward movements are not symmetrical. And there downward movement is more rapid and violent than the upward movement.
When Chandra and Morgan are identically skilled and every can decide the number of hours she works as: (w) the elasticity of Morgan’s labor supply exceeds the elasticity of supply for Chandra’s labor at each possible quantity of labor. (x) Morgan’s i
Illustrates the term economic cost concept briefly?
States the Extrapolation statistical Method of Demand Forecasting?
The arc elasticity of Plastibristle’s demand for labor between point a and point b is: (1) 0.375. (2) 0.667. (3) 0.833. (4) 1.200 (5) 2.000. Q : Attributable worth cultivating The The theory which the economic rent on agricultural land depends upon how much extra production is gained relative to the production which could be realized on land not rather worth cultivating is attributable to: (1) Johann H. von Thünen. (2) Ada
The theory which the economic rent on agricultural land depends upon how much extra production is gained relative to the production which could be realized on land not rather worth cultivating is attributable to: (1) Johann H. von Thünen. (2) Ada
During a competitive resource market, every firm confronts a resource supply curve which is: (w) upwardly sloped. (x) backward bending. (y) perfectly inelastic. (z) perfectly elastic. I need a good
Decreases in derived demands are best demonstrated while: (1) illegal aliens reduce equilibrium wage rates for unskilled workers. (2) swim suit sales plummet at the ends of summer vacations. (3) undocumented construction workers begin leaving the Unit
When the demand for labor is wage elastic, raises in wage rates cause total labor income to: (w) increase. (x) decrease. (y) remain the same. (z) fluctuate erratically. I need a go
The concept that employers artificially utilize formal training and education while screening job applicants to make hiring decisions is termed as: (w) nepotism. (x) formalism. (y) human capital discrimination. (z) credentialism. Q : Define Cost Volume-Profit relationship Describe briefly Cost Volume-Profit relationship?
Describe briefly Cost Volume-Profit relationship?
18,76,764
1961192 Asked
3,689
Active Tutors
1459568
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!