Many comp business, and many of their former workers are unemployed. Banks have been unwilling to offer loans to people and businesses that want them. Even worse, the country's largest companies are preparing to shut down some major projects. Economists project that the economy will continue to struggle for a long time. Which phase of the business cycle best describes the country in this scenario? A. Trough B. Peak
Many comp business, and many of their former workers are unemployed. Banks have been unwilling to offer loans to people and businesses that want them. Even worse, the country's largest companies are preparing to shut down some major projects. Economists project that the economy will continue to struggle for a long time. Which phase of the business cycle best describes the country in this scenario? A. Trough B. Peak
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter17: Production And Growth
Section: Chapter Questions
Problem 5CQQ
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Question
![rinciples, Civics and Economics (2020)
Pretest: Unit 11
Question 1 of 20
A country's economy has been struggling. Many companies have gone out of
business, and many of their former workers are unemployed. Banks have
been unwilling to offer loans to people and businesses that want them. Even
worse, the country's largest companies are preparing to shut down some
major projects. Economists project that the economy will continue to struggle
for a long time.
Which phase of the business cycle best describes the country in this
scenario?
A. Trough
B. Peak
C. Expansion
D. Contraction
← PREVIOUS
SUBMIT](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4e9ead4a-6056-4322-b7e7-5244a53b46ff%2Fe134d18a-5692-490d-b9f4-83746f2f0a84%2Fl131296_processed.jpeg&w=3840&q=75)
Transcribed Image Text:rinciples, Civics and Economics (2020)
Pretest: Unit 11
Question 1 of 20
A country's economy has been struggling. Many companies have gone out of
business, and many of their former workers are unemployed. Banks have
been unwilling to offer loans to people and businesses that want them. Even
worse, the country's largest companies are preparing to shut down some
major projects. Economists project that the economy will continue to struggle
for a long time.
Which phase of the business cycle best describes the country in this
scenario?
A. Trough
B. Peak
C. Expansion
D. Contraction
← PREVIOUS
SUBMIT
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