Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6. Economists sometimes look at some creative statistics that they consider to be indicators of what is to occur with respect business and/or economic cycles.

image text in transcribed
6. Economists sometimes look at some creative statistics that they consider to be indicators of what is to occur with respect business and/or economic cycles. Given the following statistics, state whether they are likely to vary in the same direction or opposite direction to the business cycle. (1 Mark each - explain with a sentence) a. sales of romance novels b. registrations with online dating services c. cosmetic surgery bookings 7. While a recession or a depression negatively affects just about every sector, industries that make capital goods or durable consumer goods, such as automobiles and appliances, are the hardest hit This is because purchases of these products can be postponed until after the downturn has ended. a) What sectors are least affected by a downtum? (2 Marks explain with a sentence) b) Which sectors were least affected by the pandemic ( 2 Marks explain with a sentence)

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

Local Consumption And Global Environmental Impacts Accounting, Trade-offs And Sustainability

Authors: Kuishuang Feng, Klaus Hubacek, Yang Yu

1st Edition

1317577272, 9781317577270

More Books

Students also viewed these Economics questions

Question

List one of the facultys publications in APA style.

Answered: 1 week ago