Business Cycles Are the Result of

question 57

Multiple Choice

Business cycles are the result of

• A) regular shifts of the AD curve only.
• B) irregular shifts of the SAS curve only.
• C) regular shifts of both the AD and SAS curves.
• D) irregular shifts of both the AD and SAS curves.

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Definitions:

1st Quartile

The value below which 25% of the observations in a dataset fall, also known as the 25th percentile.

3rd Quartile

The 3rd quartile, also known as Q3, marks the value below which 75% of the data in a dataset falls, effectively dividing the higher quarter of data from the rest.

Range

The gap between the maximum and minimum figures within a set of data.

Salaries

Regular payments made to employees for their work or services, typically expressed on an annual basis.