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Economics U$A: 21st Century Edition

Boom and Bust Quiz

Economist Barnard J. notes that high inflation is boosting interest rates. Increasingly, consumers seem to be purchasing imported goods rather than American-made goods. Which phase of the business cycle is Barnard MOST LIKELY to be observing?

Economics student Sylvia B. was recently overheard making the comment, “Well, if you’ve seen one business cycle, you’ve pretty much seen them all.” Which of the following is the MOST ACCURATE appraisal of Sylvia’s observation?

Most economists today—even those who totally disagree with Marxist philosophy — hold a certain respect for Marx’s economic perspectives. This is MOST LIKELY because:

Which of these BEST summarizes the economic costs to society for tolerating a given level of unemployment? It is the difference between:

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Economics U$A: 21st Century Edition