2....4.0 For the past several months, per capita output has decreased but at a slowing rate, and unemployment has increased; both trends appear to have leveled off. Where in the business cycle is the economy? A.In a recession B.At a trough C.At a peak D.In an expansion 2..6.0 Before the 1930's, economists tended to regard the economy as: A.Self-regulating B.In need of government intervention C.In need of more restrictions on market transactions 3.1.000 The production possibilities curve is bowed out because the resources that are available are equally suited for all types of production. True False.

1. 2....4.0 For the past several months, per capita output has decreased but at a slowing rate, and
unemployment has increased; both trends appear to have leveled off. Where in the business cycle
is the economy?
A.In a recession
B.At a trough
C.At a peak
D.In an expansion
2..6.0 Before the 1930's, economists tended to regard the economy as:
A.Self-regulating
B.In need of government intervention
C.In need of more restrictions on market transactions
3.1.000 The production possibilities curve is bowed out because the resources that are available
are equally suited for all types of production.
True
False