Answer:
1.) Business cycle/ True
2.) True
3.) The unemployment rate declined
Total real income increase
Explanation:
Business cycle can be explained as the rise and fall in production output of goods and services in an economy. Business cycle are generally measured using the rise and fall in the gross domestic product(GDP), either nominal or adjusted for inflation. Business cycle is closely related to the economic cycle and trade cycle.
Every nation's economy fluctuates between periods of expansion and contraction. These changes are caused by levels of employment, productivity, and the total demand for and supply of the nation's goods and services. In the short-run, these changes lead to periods of expansion and recession. But in the long-run, economic growth can occur, allowing a nation to increase its potential level of output over time.
In 1950, during the experience in increase in real GDP, U.S had about 8.7% increase in growth, a declined rate of unemployment to about 4.3% with the inflation rate of 5.9% , this era was considered to be expansion and korean war.
Based on the fact that the purely competitive firm is producing at point q, in the long run we should expect firms to leave the industry and market supply to fall so that product price rises.
<h3>What will happen in the long run?</h3><h3 />
At point Q, the firm is making losses as total costs are more then price. Firms will therefore leave the market to avoid making losses.
This decrease in production will lead to reduced supply which will push the prices back up to a $0 profit level.
Find out more on pure competitions in the long term at brainly.com/question/3291231
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Answer:
Venus, Inc. is employing a push strategy.
Explanation:
This is a promotional strategy used by marketers to "push" their products into the customer and is often used when launching a new product. The idea is to make the product known to the public that <em>does not know</em> of it and is <em>not actively looking for it</em>. Companies often provide incentives to its distributors to give them <u>higher visibility</u> and set up <u>pont-of-sale displays.</u>
Answer:
its owners, employees, and customers
Answer:
The by $10 billion would government spending have to rise to shift the aggregate demand curve rightward by $40 billion.
Explanation:
a) Spending multiplier = 1/(1 - MPC)
= 1/(1 - 0.8)
= 5
The required shift in spending = change in GDP/spending multiplier
= $40 billion/5
= $8 billion
Therefore, The by $10 billion would government spending have to rise to shift the aggregate demand curve rightward by $40 billion.
