Author Question: The series of ups and downs the economy tends to move in is called A) the business cycle. B) a ... (Read 68 times)

cmoore54 · **on:** Jun 29, 2018

The series of ups and downs the economy tends to move in is called

A) the business cycle.
B) a recession.
C) a depression.
D) economic growth.

Question 2

The income effect in the market for aspirin means that

A) aspirin are generally taken by people with higher than average incomes.
B) a decrease in the price of a substitute good like acetaminophen will make aspirin takers feel a little poorer than they were before.
C) an increase in the price of aspirin will reduce the total purchasing power of aspirin takers, making them able to afford fewer aspirin.
D) an increase in the price of aspirin will cause headache sufferers to look for a lower priced remedy.