Business Cycles

question 185

Multiple Choice

Business cycles

• A)have been a recurring source of debate to economic theory throughout history.
• B)represent a fairly recent problem confronting economic systems.
• C)show very regular and smooth patterns of ups-and-downs in economic systems.
• D)cannot occur in market-based economic systems.
• E)have been increasingly unstable over the past half century.

---

Definitions:

Probability

A measure of the likelihood that an event will occur, ranging from 0 (impossibility) to 1 (certainty).

Combinations

The selection of items from a collection such that the order of selection does not matter.

Class

In the context of data, a grouping or categorization according to shared characteristics; in education, an organized period of instruction.

Simple Events

Events that cannot be broken down any further into simpler components in the context of probability.