Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

11 The economy is in an expansion when it is A. at its trough. B. moving from a trough to a peak. C. at its

11 The economy is in an expansion when it is

A.

at its trough.

B.

moving from a trough to a peak.

C.

at its peak.

D.

moving from a peak to a trough.

12 A shock that increases the costs of production is a

A.

positive aggregate supply shock.

B.

negative aggregate supply shock.

C.

negative aggregate demand shock.

D.

positive aggregate demand shock.

13 Keynesian economics refers to the perspective that the business cycle represents

A.

equilibrium.

B.

longrun macroeconomic fluctuations.

C.

disequilibrium.

D.

shortrun macroeconomic stability.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

China Under Mao A Revolution Derailed

Authors: Andrew G Walder

1st Edition

0674975499, 9780674975491

More Books

Students also viewed these Economics questions