The U.S. economy is experiencing falling output, falling ...

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The U.S. economy is experiencing falling output, falling employment, falling incomes and rising unemployment. These conditions best describe a business cycle
 
  A) expansion.
  B) peak.
  C) trend.
  D) recession.
  E) trough.

Question 2

A firm is said to be a price taker if it:
 
  A) can affect the market price of goods by changing its supply.
  B) sells as much of any good as it wants at the prevailing market price.
  C) consults the government before fixing the price of its goods and services.
  D) is not free to enter a new market or exit from an existing market.

[Joy Chen]

Answer to Question 1

D

Answer to Question 2

B

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Gracias!

[strudel15]

Excellent