-Refer to Figure 5-1 Above

question 24

Multiple Choice

-Refer to Figure 5-1 above.If the economy moves from point B to C on the graph,it is going through a(n)

• A) peak
• B) trough
• C) expansion
• D) slump
• E) recession

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Definitions:

Environmental Degradation

The deterioration of the environment through depletion of resources such as air, water, and soil; the destruction of ecosystems; and the extinction of wildlife.

Market Price

The current value at which a commodity, security, or service can be bought or sold in a marketplace.

Economic Growth

An increase in the economic output and wealth of a country, typically measured by the gross domestic product (GDP).

Natural Capital

The world's stocks of natural assets which include geology, soil, air, water, and all living organisms.