1. The underground economy consists of both reported and unreported illegal activities.
2. A set of statistics that allows economists to compare prices over time is known as a Price Index.
3. The output-expenditure model is used to compute GDP
4. War is an external factor that can affect the business cycle
5. Periods of expansion will inevitably hit a trough
6. The Business cycle is divided into six stages/phases
7. Business Cycles are flunctuations in a market system's economic activity
8. Since the mid-1960s, APD has lowered
9. The Capital-To-Labor Ratio is the amount of capital stock per worker
10. Oil is an important natural resource imported by the United States.