The Passing of Grandison. What racial sterotypes does Charles W Chesnutt explore in The Passing of Grandison?. One racial stereotype is that slaves did not have feelings like most people. It was typical for a white man to feel that a black man did not love or feel.
Contraction: A slowdown in the pace of economic activity defined by low or stagnant growth, high unemployment, and declining prices. It is the period from peak to trough. Trough: The lowest turning point of a business cycle in which a contraction turns into an expansion. This turning point is also called Recovery.
Points inside the curve imply that the economy could have more goods if it achieved full employment and productive efficiency. Points lying outside of the production possibilities curve would represent a greater output than the output at any point on the curve. Such points, however, are unatÂ­tainable with the current supplies of resources and technology. Law of Increasing Opportunity Cost