CAT2005 SECTION - EU _ CAT4MBA

If s upply cons traints s tart to bite any declines

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Unformatted text preview: s s ay production is about to top out. If s upply cons traints s tart to bite, any declines in the price are likely to be s hort-term cyclical affairs punctuating a long upward trend 11. By the expres s ion 'Edwardian Sum m er', the author refers to a period in which there is a . u n p a ra lle le d lu xu ry a n d o p u le n ce . b . a s e n s e o f co mp la ce n cy a mo n g p e o p le b e ca u s e o f a ll-ro u n d p ro s p e rity. c. a cu lmin a tio n o f a ll-ro u n d e co n o mic p ro s p e rity. d . a n immin e n t d a n g e r lu rkin g b e h in d e co n o mic p ro s p e rity. e .No t Atte mp te d 12. What, according to the author, has res ulted in a wides pread belief in the res ilience of m odern capitalis m ? a . Gro w th in th e e co n o mie s o f W e s te rn co u n trie s d e s p ite s h o cks in th e fo rm o f in cre a s e in le ve ls o f in d e b te d n e s s a n d in fla te d a s s e t p rice s . b . In cre a s e in th e p ro s p e rity o f W e s te rn co u n trie s a n d C h in a...
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