Choose the Word or Phrase in [ ] Which Will

question 30

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-During the expansion phase of the business cycle,the unemployment rate will [increase | decrease].

---

Definitions:

Price Floors

Minimum price levels set by the government for certain goods and services, below which they cannot be sold.

Price Ceilings

A government-imposed limit on how high a price can be charged for a product or service.

Quantity Traded

The total number of units of goods or services exchanged in a market during a given period.

Shortages

Conditions where the demand for a good or service exceeds the available supply, often leading to increased prices.