Which of the Following Is Correct When Describing Business Cycles

question 246

Multiple Choice

Which of the following is correct when describing business cycles?
I. The economy does not grow or shrink at a steady pace.
II. Short- run aggregate supply increases at a fixed pace.
III. There are usually a few years between recessions.

• A) I and II
• B) I and III
• C) II and III
• D) I only

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Definitions:

Atomic Open Sentence

A simple open sentence involving a variable, without any logical connectives, that can be made true or false by assigning values to the variable.

Symbolized Categorical Statement

A statement within formal logic that classifies members of categories and is often represented using symbols to express its logical structure.

Categorical

Relating to, or absolute in nature, often used to describe statements that are unconditional and clearly defined.

Symbolized

The process of representing elements or concepts using symbols, typically in mathematics, logic, and computer science.