Through Repeated Business Cycles, in Most Countries the Average National

question 14

Multiple Choice

Through repeated business cycles, in most countries the average national output in the long run shows:

• A) a tendency to remain constant over time.
• B) no discernible trend.
• C) a trend of slowly rising.
• D) a trend of slowly falling.

---

Definitions:

Costs Of Inflation

The economic disadvantages resulting from inflation, such as reduced purchasing power and the distorting effects on saving and investment decisions.

Without Reducing

Refers to accomplishing or adding something without decreasing or compromising other aspects.

Consumption Tax

A tax on the spending on goods and services, often levied as a sales tax, value-added tax (VAT), or goods and services tax (GST).

Saving

entails setting aside a portion of current income for future use, either by keeping the money in cash or placing it in some form of investment.