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Author Question: The following statements about the business cycle are correct except ______. A. it is a regular ... (Read 47 times)

Medesa

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on: Jun 29, 2018
The following statements about the business cycle are correct except ______.
 
  A. it is a regular predictable cycle in real GDP around potential GDP
  B. from the peak to the trough, the economy is in a recession
  C. from the trough to the peak, the economy is in an expansion
  D. it is a periodic movement in economic activity including employment

Question 2

What does it mean for two inputs to be complements? Give an example that describes how labor and capital can be complementary inputs.
 
  What will be an ideal response?


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ricroger

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A The business cycle fluctuations around potential GDP are ir-regular and difficult to predict.

Answer to Question 2

Two inputs are complementary when the presence of one raises the productivity of another. A worker with a shovel can dig holes more quickly than one without.


Medesa

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

scikid

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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