Which of the Following Statements Is True

question 55

Multiple Choice

Which of the following statements is true?

• A) The four phases of the business cycle, in order, are: peak, recovery, trough, recession.
• B) When unemployment is rising then real GDP is rising.
• C) The economic problem typically associated with a recovery is rising unemployment.
• D) Full employment exists in an economy when the unemployment rate equals the sum of frictional, seasonal and structural unemployment rates.

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Definitions:

Ulrich Beck

A German sociologist best known for his theory of "risk society," highlighting the ways modern society deals with risks and uncertainties.

Zygmunt Bauman

A sociologist known for his analyses of modernity, postmodernity, and the societal impacts of globalization, consumerism, and ethics.

Eastern

Referring to the regions, cultures, or characteristics of the East, often in context of geography, like Asia, or in comparison to the Western world.

Western

Pertaining to or characteristic of the cultures, institutions, and thought originating from or associated with Europe and North America.