The Upward and Downward Movement of Aggregate Output Produced in the Economy

question 14

Multiple Choice

The upward and downward movement of aggregate output produced in the economy is referred to as the

• A)roller coaster.
• B)see saw.
• C)business cycle.
• D)shock wave.

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Definitions:

Risk-loving

A preference for options with uncertain outcomes, even when the expected return is the same as safer alternatives.

Universal Health Coverage

A health care system in which all individuals have access to quality health services without suffering financial hardship.

Lemon Laws

Laws designed to offer remedies to consumers for products such as automobiles that repeatedly fail to meet standards of quality and performance.

Dealer Warranties

Guarantees issued by sellers that vow to repair or replace products if they fail to meet specified criteria within a certain time frame.