The Period from 1983 to 1990 Was Characterized by

question 100

Multiple Choice

The period from 1983 to 1990 was characterized by

• A)decreasing budget deficits and increasing trade surpluses.
• B)persistently high inflation.
• C)below average rates of real GDP growth.
• D)consistent growth of real GDP and decreasing rates of inflation.

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Definitions:

Business

An organization or economic system where goods and services are exchanged for one another or for money.

Goods and Services

The tangible products (goods) and intangible activities (services) that fulfill the needs or wants of consumers.

Factor Market

A marketplace where factors of production (e.g., labor, capital) are bought and sold.

Circular-Flow Diagram

A graphical outline that tracks the flow of monetary resources through markets, between companies and household sectors.