(17) A business cycle peak is a

a)small negative deviation from trend in real GDP.

b)small positive deviation from trend in real GDP.

c)relatively large positive deviation from trend in real GDP.

d)relatively large negative deviation from trend in real GDP

(18) Comovement can be determined by

a)economic forecasting models.

b)examining a scatter plot.

c)determining whether a series leads or lags.

d)determining the persistence in a series.

(19) An income tax is a tax that

a)can be avoided by strategic behaviour.

b)does not depend on the actions of the government.

c)distorts economic decisions.

d)does not depend on the actions of the economic agent being taxed.