Asked by Matthew Payeff on Apr 24, 2024
Verified
In years of economic contraction, firms throughout the economy increase their production of goods and services, employment rises, and jobs are easy to find.
Economic Contraction
A decline in the national output as measured by GDP, often associated with a decrease in spending and investment.
- Distinguish the distinctions between microeconomics and macroeconomics, as well as their individual functions.
Verified Answer
RB
Rebekah Begay6 days ago
Final Answer :
False
Explanation :
During economic contractions, firms typically reduce production, employment falls, and jobs become harder to find due to decreased demand and economic activity.
Learning Objectives
- Distinguish the distinctions between microeconomics and macroeconomics, as well as their individual functions.
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