Situations in Which Firms Expect One Thing to Happen but Then

question 192

Multiple Choice

Situations in which firms expect one thing to happen but then something else happens are called

• A)recessions.
• B)shocks.
• C)business cycles.
• D)fluctuations.

Recognize the significance of economic models and their role in analyzing real-world situations.

Acknowledge the advantages of trade between nations, even when one is more productive.

Understand the importance of assumptions in economic modeling and their potential limitations.

Identify key factors of production and their roles.