A Period of Sustained Decline in Output in an Economy

question 12

Multiple Choice

A period of sustained decline in output in an economy is known as a(n) _____.

• A)expansion
• B)stagnation
• C)peak
• D)trough
• E)contraction

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Definitions:

Economic and Monetary Union

A type of trade bloc that combines a common market with a currency union. Often entails the coordination of economic and fiscal policies among member states.

Internal Borders

Boundaries within a country that delineate regions, states, or territories for administrative purposes.

Wholly Owned Subsidiaries

Companies that are completely controlled by another company, the parent company, because the parent company owns all of their stock.

MNE

A Multinational Enterprise (MNE) is a company that owns and controls production or service facilities outside of the country in which it is based.