Which of the Following Statements Is False

question 112

Multiple Choice

Which of the following statements is false?

• A)Economic fluctuations include recessions and rapid expansions.
• B)Economic fluctuations seem to have diminished in severity.
• C)Economic fluctuations are an important subject in the study of economics.
• D)Economic fluctuations did not occur until the twentieth century.
• E)Economic fluctuations are departures from the long-run growth trend.

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Definitions:

Perfectly Competitive

A market structure characterized by a large number of buyers and sellers, homogenous products, and no barriers to entry or exit.

Duopoly Market

A market structure dominated by only two producers or sellers, leading to a form of competition that significantly impacts pricing and output decisions.

Merging Firms

The process where two or more companies combine into a single company, often to expand market share, reduce costs, or increase competitiveness.

Identical Product

A product that is exactly the same in every feature, quality, and production process with another product, making them interchangeable.