2. Key facts about economic fluctua The following graph approximates business cycles in the United States from the first quarter of 1953 to the third quarter of 1957. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 2700 REAL GOP (Btions of dollar) 2400 1953 1954 1965 YEAR O False 1900 Source: "Curent-duar and Real COR Bureau of Economics Analysis, last modited May 1, 11, accesent May 15, 13, www.bea Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDR such as the blue-shaded period in 1953, is known as True or False: Short-term fluctuations in real GDP are irregular and unpredictable. O True

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2. Key facts about economic fluctuations
The following graph approximates business cycles in the United States from the first quarter of 1953 to the third quarter of 1957, The vertical blue bar
coincides with periods of 6 or more months of declining real gross domestic product (real GDP).
2700
REAL GOP (Bitions of dole)
2500
2400
1953
1965
YEAR
True
1996
Source: "Current-ditar and Reat GDP Bureau of Economics Analysis, last modited May 1, 13, accessnt May 13, 13, www.beagowaona
False
FUST
Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDR such as the blue-shaded
period in 1953, is known as
True or False: Short-term fluctuations in real GDP are irregular and unpredictable.
p
115 pronomy experienced increasing real GDP in 1954? Check all that apply
Transcribed Image Text:2. Key facts about economic fluctuations The following graph approximates business cycles in the United States from the first quarter of 1953 to the third quarter of 1957, The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 2700 REAL GOP (Bitions of dole) 2500 2400 1953 1965 YEAR True 1996 Source: "Current-ditar and Reat GDP Bureau of Economics Analysis, last modited May 1, 13, accessnt May 13, 13, www.beagowaona False FUST Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDR such as the blue-shaded period in 1953, is known as True or False: Short-term fluctuations in real GDP are irregular and unpredictable. p 115 pronomy experienced increasing real GDP in 1954? Check all that apply
Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, such as the blue-shaded
period in 1953, is known as
True or False: Short-term fluctuations in real GDP are irregular and unpredictable.
True
False
Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 19547 Check all that apply.
Home sales declined.
Retail sales increased.
Consumer spending increased.
Industrial production declined.
Transcribed Image Text:Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, such as the blue-shaded period in 1953, is known as True or False: Short-term fluctuations in real GDP are irregular and unpredictable. True False Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 19547 Check all that apply. Home sales declined. Retail sales increased. Consumer spending increased. Industrial production declined.
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