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adell [148]
3 years ago
14

Forlornistan is a country in the midst of a serious economic downturn. Forlornistan's GDP has declined steadily for over three y

ears and is now at its lowest level in over sixty years. Forlornistan's unemployment rate is at an all-time high and the nation's CPI is falling. Forlornistan's economic condition is referred to as a:
(a)-Period of stagflation

(b)-balance of trade deficit

(c)-depressio

(d-)retraction
Business
1 answer:
goblinko [34]3 years ago
6 0

Answer:

The correct answer is option c.

Explanation:

Forlornistan is experiencing an economic downturn, the GDP has steadily declined, the employment rate is very low and the CPI is falling.

All these characteristics show that the economy is going through economic depression.

Depression refers to the situation in which an economy suffers a downturn in economic activities. It involves decrease in output level, price and employment rate.

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Unemployment would cause an economy to Group of answer choices produce outside its production possibilities frontier. produce in
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Answer:

The correct answer is: produce inside its production possibilities frontier.

Explanation:

The production possibility frontier shows the maximum possible combination of two goods that an economy can produce using all the available resources and state of technology.

Unemployment in an economy means that all the available resources are not being completely used. So, the economy will operate at a point inside the production possibility curve.

Production at this point will be feasible but allocatively inefficient.

3 0
3 years ago
Suppose the value of the price elasticity of supply is 4. what does this mean? a 1 percent increase in the price of the good cau
Aleonysh [2.5K]

A. 1% increase in the price of the good causes the supply curve to shift upward by 4 percent.

8 0
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The value of what businesses provide to other businesses is captured in the final products at the end of the __________ chain. s
Ira Lisetskai [31]
The value of what businesses provide to other businesses is captured in the final products at the end of the production chain. During the production chain the product goes through various steps to reach its end result. Each step in the chain adds more value to the product. Once it reaches the end of the chain the true test is the value it provides to business that ends up using the item. An example of this is a home being built. During each stage of the home building process the home is getting closer to its true test, when the owners move in. From the floor being poured to the walls going up, each step makes the house closer to becoming someones home. 
8 0
3 years ago
Ahmad owns an apartment building and has recently had to lower the rent he charges, not only to attract new tenants but also to
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Answer:

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