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
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
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Production And Growth
Section: Chapter Questions
Problem 5CQQ
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