Question

pregunta 1 (4 puntos)
the period of increased economic growth in the business cycle is called _; while the period of decreased economic growth is called _.
○ a contraction; trough
○ b expansion; contraction
○ c trough; contraction
○ d contraction; expansion

pregunta 2 (3 puntos)
a/an ___ is the ability of a person, company, or country to produce a greater quantity of goods and services than a competitor, using the same amount of inputs.
○ a comparative advantage
○ b absolute advantage
○ c corporate advantage
○ d statistical advantage

Explanation:

For Pregunta 1: In business cycle terminology, expansion refers to increased economic growth, and contraction refers to decreased growth.
For Pregunta 2: Absolute advantage is defined as producing more goods/services with the same inputs than a competitor.

Answer:

b. expansion; contraction
b. absolute advantage