Research on the effects of recessions on the real level of GDP shows that recessions cause only temporary reductions in real GDP, which are offset by growth during the expansion phase. recessions cause large, permanent reductions in the real level of GDP. recessions cause both temporary and permanent declines in real GDP, but most of the decline is temporary. recessions cause both temporary and permanent declines in real GDP, but most of the decline is permanent.
Research on the effects of recessions on the real level of GDP shows that recessions cause only temporary reductions in real GDP, which are offset by growth during the expansion phase. recessions cause large, permanent reductions in the real level of GDP. recessions cause both temporary and permanent declines in real GDP, but most of the decline is temporary. recessions cause both temporary and permanent declines in real GDP, but most of the decline is permanent.
Chapter18: The Keynesian Model
Section: Chapter Questions
Problem 5SQP
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Research on the effects of recessions on the real level of
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recessions cause only temporary reductions in real GDP, which are offset by growth during the expansion phase. |
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recessions cause large, permanent reductions in the real level of GDP. |
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recessions cause both temporary and permanent declines in real GDP, but most of the decline is temporary. |
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recessions cause both temporary and permanent declines in real GDP, but most of the decline is permanent. |
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