Which of the Following Statements Is False

question 112

Multiple Choice

Which of the following statements is false?

• A)Economic fluctuations include recessions and rapid expansions.
• B)Economic fluctuations seem to have diminished in severity.
• C)Economic fluctuations are an important subject in the study of economics.
• D)Economic fluctuations did not occur until the twentieth century.
• E)Economic fluctuations are departures from the long-run growth trend.

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Definitions:

Computational Skills

The ability to use mathematical techniques and algorithms to solve problems and perform calculations.

Fairness

A person’s opinion as to whether a price, wage, or allocation is considered morally or ethically acceptable.

Systematic Errors

Suboptimal choices that (1) are not rational because they do not maximize a person’s chances of achieving his or her goals and (2) occur routinely, repeatedly, and predictably.

Self-Interested

Acting in a way that is most beneficial to oneself, often used in the context of economic behavior assuming individuals act to maximize their own welfare.