Which of the Following Does NOT Explain Why the Official

question 280

Multiple Choice

Which of the following does NOT explain why the official chronology of past U.S. business cycles maintained by the National Bureau of Economic Research goes back only to 1854?

• A)The further back in time you go, the fewer economic data are available.
• B)There may not have been business cycles in the modern sense much before 1854.
• C)Before 1854 the U.S. economy was mostly agricultural, and therefore the short-run aggregate supply curve was probably close to vertical.
• D)There were no banks before 1854.

Evaluate the relevancy and value of sources for industry-specific information.

Distinguish between tools for secondary research and primary research methods.

Understand what the Myers-Briggs Type Indicator (MBTI) is and its theoretical basis.

Distinguish between different types of personality tests (projective vs. empirical).

---

Definitions:

Framing

Tendency to rely on the context in which a choice is described when making a decision.

Salience

The perceived importance of a good or service.

Demand Curve

Relationship between the quantity of a good that consumers are willing to buy and the price of the good.

Price Increase

A rise in the cost of goods or services.