Foundations of Economics, Student Value Edition Plus MyLab Economics with eText -- Access Card Package (8th Edition)
Foundations of Economics, Student Value Edition Plus MyLab Economics with eText -- Access Card Package (8th Edition)
8th Edition
ISBN: 9780134641843
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 21, Problem 1IAPA
To determine

Country which was in recession at the beginning of 2013.

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Recessions hit parts of the economy differently.   What part of the economy is usually hurt the most during a recession?   Durable goods.    Non-durable goods    Consumer non-durable goods    Consumer services like dentist appointments
Which of the following economic environments would most likely be associated with a recession? Unemployment falling to 30-year low Unemployment increasing from 5% to 9% during the year New businesses opening in record numbers while new housing starts reach a 10-year high GDP growing at an annual rate of 4.2%
Research on the effects of recessions on the real level of GDP shows that     recessions cause only temporary reductions in real GDP, which are offset by growth during the expansion phase.   recessions cause large, permanent reductions in the real level of GDP.   recessions cause both temporary and permanent declines in real GDP, but most of the decline is temporary.   recessions cause both temporary and permanent declines in real GDP, but most of the decline is permanent.
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