Author Question: The NBER focuses primarily on the value of real GDP while deciding whether an economic contraction ... (Read 51 times)

abarnes · **on:** Jun 30, 2018

The NBER focuses primarily on the value of real GDP while deciding whether an economic contraction is a recession, because it is measured monthly and allows the identification of the month in which business-cycle turning points occur.
a. True
b. False
Indicate whether the statement is true or false

Question 2

What are the two parts of the economic problem?
a. economics explains many things, but only things that are related directly to money.
b. natural resources are scarce but human-made resources are not.
c. scarcity forces us to choose and choices are costly because we must give up other opportunities that we value.
d. we have unlimited wants and unlimited resources.