1.In order to identify the date of a business cycle peak, the NBER committee looks at...

1.In order to identify the date of a business cycle peak, the NBER committee looks at data on

Group of answer choices

total employment.

wholesale and retail sales.

industrial production.

all of the above

2.In the circular flow diagram, S and NT are

Group of answer choices

flows of expenditures

flows of income

flows of money

none of the above

Expert Solution

1. The correct answer is all of the above.

This is because National Bureau of Economic Research uses the indicators such as payroll employment, consumption expenditure, wholesale and retail sales adjusted for price changes, employment as measured by household surveys and industrial production.

2. S and NT indicate subisides and net taxes in a circular flow diagram. A circular flow diagram shows the flow of income in an income in an economy.

Thus, the flow of income is the correct answer.

Rahul Sunny answered 2 years ago

a peak in the business cycle

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