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2. Four factors, both expected and unexpected, perpetuate the business cycle. Which of the following is NOT one of these factors?
business investments
interest rates and credit
stagflation
external shocks
3. Chris decided that this year she would put 25 percent of her income in savings and investments, an increase of 5 percent over the previous year. If a majoirty of people did this, how would the economy be affected?
The economy would suffer because less money would be spent on goods and services.
The economy would prosper because more investment funds would be available for businesses.
There would be no effect because the same amount of money would enter the economy.
The economy would suggere because the government would collect fewer income taxes.
4. What source of economic growth is reflected in the economy by an increase in productivity without an increase in land, labor, or capital?
technological progress
foreign trade
population growth
savings and investment
5. Which one of these people lost his or her job because of structural unemployment?
Jordan graduated from law school and is interviewing with various law firms.
Thomas's job as a landscaper is on hold until the spring.
Sonya dropped out of school and now fails to meet the minimum requirements for his job.
Eva lost her job at a major interior design firm during the recession in the 1980s.
Jordan
Thomas
Sonya
Eva
6. According to the principle of cyclical unemployment, what will occur when the demand for goods and services drops during a recession?
The business cycle resumes an upward trend.
The demand for labor drops.
The demand for labor rises.
No frictional unemployment exists.
2. Four factors, both expected and unexpected, perpetuate the business cycle. Which of the following is NOT one of these factors?
business investments
interest rates and credit
stagflation
external shocks
3. Chris decided that this year she would put 25 percent of her income in savings and investments, an increase of 5 percent over the previous year. If a majoirty of people did this, how would the economy be affected?
The economy would suffer because less money would be spent on goods and services.
The economy would prosper because more investment funds would be available for businesses.
There would be no effect because the same amount of money would enter the economy.
The economy would suggere because the government would collect fewer income taxes.
4. What source of economic growth is reflected in the economy by an increase in productivity without an increase in land, labor, or capital?
technological progress
foreign trade
population growth
savings and investment
5. Which one of these people lost his or her job because of structural unemployment?
Jordan graduated from law school and is interviewing with various law firms.
Thomas's job as a landscaper is on hold until the spring.
Sonya dropped out of school and now fails to meet the minimum requirements for his job.
Eva lost her job at a major interior design firm during the recession in the 1980s.
Jordan
Thomas
Sonya
Eva
6. According to the principle of cyclical unemployment, what will occur when the demand for goods and services drops during a recession?
The business cycle resumes an upward trend.
The demand for labor drops.
The demand for labor rises.
No frictional unemployment exists.