You are chair of the federal reserve board. in your meeting with the federal open market committee, the committee unanimously votes to increase the money supply using open market operations (omos). during the press conference after the meeting, a reporter asks you to explain what omos are and how you will use them to increase the money supply?

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

The correct answer is (b) the marginal contribution of labor decreases as the quantity of labor used in production increases;