Business cycles are
A) irregular, with some having two recessions and no expansion.
B) predictable, with a recession following a trough.
C) unpredictable, but always have two phases and two turning points.
D) unpredictable, and don't always have two phases and two turning points.
Question 2
The price elasticity of demand for DVDs is 2. If the price of a DVD increased by 2 percent, the quantity demanded will ________.
A) decrease by 2 percent
B) not change
C) decrease by 4 percent
D) decrease by 1 percent