Which of the following statements is false?
A) The rate of change in economic activity is used to assess whether an economy is expanding or contracting.
B) Short-term ups and downs in the economy are known as business cycles.
C) During a recession, output and employment are falling.
D) Business cycles are always symmetric-the length of an expansion is the same as the length of a contraction.
Correct Answer:
Verified
Q29: The demand for steel has decreased in
Q30: If the labor force is 50 million
Q31: We can use macroeconomic analysis to
A) study
Q32: A prolonged and deep recession is called
A)
Q33: The period in the business cycle from
Q35: Unemployment implies that in the labor market
A)
Q36: Macroeconomics
A) studies the behavior of individual consumers,
Q37: Microeconomics is best described as the study
Q38: The unemployment rate equals
A) labor force/population.
B) unemployed/employed.
C)
Q39: The demand for auto mechanics increased in
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