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Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as

Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 32CTQ: Do you think perfect indexing is possible? Why or why not?
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2400 + 1955 1956 1958 1959 YEAR Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13, http://www.bea.gov/national/xls/gdplev.xls. Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as True or False: Short-term fluctuations in real GDP are irregular and unpredictable. O True False Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1957? Check all that apply. O Corporate profits declined. O Consumer spending increased. The unemployment rate increased. Car sales increased. HH 1957 18 O
Transcribed Image Text:2400 + 1955 1956 1958 1959 YEAR Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13, http://www.bea.gov/national/xls/gdplev.xls. Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as True or False: Short-term fluctuations in real GDP are irregular and unpredictable. O True False Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1957? Check all that apply. O Corporate profits declined. O Consumer spending increased. The unemployment rate increased. Car sales increased. HH 1957 18 O
← https://aplia.apps.ng.cengage.com/af/servlet/quiz?quiz_action=takeQuiz&quiz_probGuid=Q4PLC0A80101000... A The following graph approximates business cycles in the United States from the first quarter of 1955 to the third quarter of 1959. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). ? 2800 2700 1958 O REAL GDP (Billions of dollars) 2600 2500 2400 1955 G 1956 1957 YEAR 1959 I'
Transcribed Image Text:← https://aplia.apps.ng.cengage.com/af/servlet/quiz?quiz_action=takeQuiz&quiz_probGuid=Q4PLC0A80101000... A The following graph approximates business cycles in the United States from the first quarter of 1955 to the third quarter of 1959. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). ? 2800 2700 1958 O REAL GDP (Billions of dollars) 2600 2500 2400 1955 G 1956 1957 YEAR 1959 I'
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