Which of the Following Statements Is True

question 21

Multiple Choice

Which of the following statements is true?

• A) Another name for capital consumption allowance is depreciation.
• B) When there are two consecutive quarterly declines in Real GDP the economy is said to be in recession (based on the standard definition).
• C) In the expansion phase of a business cycle,Real GDP rises beyond the recovery.
• D) a and b
• E) a,b,and c

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Definitions:

Eminent Domain

The right of a government or its agent to expropriate private property for public use, with payment of compensation.

Fairly Compensate

To provide just or appropriate remuneration or settlement for services performed or harm experienced.

Market Value

The current price at which an asset or service can be bought or sold in the open market, reflecting its perceived worth.

Fee Simple Absolute

The most complete ownership of land or property legally possible, allowing the owner unrestricted rights to use, sell, or bequeath the property.