1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
drek231 [11]
3 years ago
6

Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, suc

h as the blue-shaded period in 1948, is known as_______(a recession/a business cycle/an expansion) .
Business
1 answer:
Murljashka [212]3 years ago
6 0
The answer to this question is the choice 'a recession'. The period of decline in real GDP and other factors in the economy such as the blue-shaded period in 1948 is called a recession.
You might be interested in
Which set of changes is definitely predicted to lower real gdp in the short run?
Tatiana [17]
D. foreign real national income falls and wages rates rise. 
3 0
3 years ago
The law of increasing opportunity costs Multiple Choice applies to land-intensive commodities but not to labor-intensive or capi
yan [13]

Answer:

may limit the extent to which a nation specializes in producing of a particular product.

Explanation:

Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.

Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.

For instance, if you decide to invest resources such as money in a food business (restaurant), your opportunity cost would be the profits you could have earned if you had invested the same amount of resources in a salon business or any other business as the case may be.

The law of increasing opportunity costs can be defined as a principle in business which states that, if an organization or business firm continually raise (increase) its level of production, its opportunity cost also increases (rises).

Consequently, this may limit the extent to which a nation or country in any part of the world specializes in producing of a particular product so as to reduce or lower its opportunity cost.

3 0
2 years ago
In year 1, the Consumer Price Index was 120 and the average nominal income was $30,000. In year 2, the Consumer Price Index was
Cerrena [4.2K]

Answer:

Real income has increased by $720 in terms of dollar and 2% in percentage

Explanation:

<em>The real income is determined by adjusting the nominal income for inflation. The consumer price index (CPI) is used to measure the rate of inflation.</em>

R<em>eal income = Nominal income × CPI Base year/ CPI in current year</em>

Real Income =         32000 × 120/125

                                =$30,720

Change Real income

Change in real income ($) = 30,720 - 30,000

                                        = $ 720  

Change in real income (%)  =  (720/30,000) × 100

                                      = 2%

Real income has increased by $720 in terms of dollar and 2% in percentage

                     

3 0
3 years ago
A bill in the House of Representatives may only be introduced by a(n) __________. employee of a federal agency lobbyist for a sp
masha68 [24]
A bill in <span>the House of Representatives may only be introduced by a representative. 
</span>
6 0
2 years ago
Read 2 more answers
You need to know more than just facts in order to use critical thinking skills.
Leokris [45]

the answer to this is true

5 0
3 years ago
Other questions:
  • As competition increases, businesses find greater opportunities for successTrue or false?
    8·1 answer
  • Home / study / business / economics / questions and answers / 1.if individual income tax accounts for more total ...
    12·1 answer
  • ChocolateCookie Inc is a private firm. You collected information about its competitors and calculated the weighted average of th
    9·1 answer
  • The sticky-price theory helps explain what feature of the aggregate demand and aggregate supply model?
    10·1 answer
  • A plant asset was purchased on January 1 for $40,000 with an estimated salvage value of $8,000 at the end of its useful life. Th
    13·1 answer
  • Configuration management is the same as change management. <br> a. True <br> b. False
    14·1 answer
  • Overall what statement is most true of Judith
    9·1 answer
  • Find the average variable cost for producing 18 sneakers. Round your answer to the nearest hundredth.
    6·1 answer
  • Identify three major groups of people involved in the marketing research process, and then give at least one example of an uneth
    12·1 answer
  • Question 8 of 10
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!