Figure 2.5.3 -An Industry in Which Sales Tend to Magnify Cyclical Changes

question 65

Multiple Choice

Figure 2.5.3
-An industry in which sales tend to magnify cyclical changes in gross domestic product and national income is called:

• A) a cyclical industry.
• B) a counter-cyclical industry.
• C) a fluctuating industry.
• D) a dismal industry.

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Definitions:

Unfair Trade Practices

Business activities deemed unjust, deceptive, or fraudulent that can affect fair competition in the market.

Self-Sufficiency

The ability of an individual or economy to meet all its needs without external assistance.

Balance of Trade

The variance between what a country spends on imports and earns from exports during a certain timeframe.

Economic Revival

A period of growing business activity signaling the end of a recession or economic downturn, often characterized by increases in employment, consumer spending, and investment.