Which of the Following Is a True Statement About the Length

question 232

Multiple Choice

Which of the following is a true statement about the length of recessions and expansions in the United States economy?

• A)After 1950,the length of expansions equaled the length of recessions.
• B)After 1950,the length of expansions were much less than the length of recessions.
• C)After 1950,the length of expansions were much longer than the length of recessions.
• D)After 1950,the length of expansions were brief and almost nonexistent.

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Definitions:

Deregulation

The process of removing government restrictions and regulations in industry to allow for more competition and efficiency in the market.

Communications Industry

A sector that encompasses companies and technologies involved in the transmission of information, including media, internet, telecommunications, and broadcasting.

Social Regulation

Rules designed to protect the health, safety, and welfare of the public, often including environmental and worker safety regulations.

Allocative Efficiency

The apportionment of resources among firms and industries to obtain the production of the products most wanted by society (consumers); the output of each product at which its marginal cost and price or marginal benefit are equal, and at which the sum of consumer surplus and producer surplus is maximized.