The figure shows the fluctuations in aggregate output since 1900. Aggregate output (real GDP) in billions of 2009 dollars 17,000+ 14,000 11,000 8,000 6,000- 4,000- 2,000- 1,000- World War I 1900 1910 Roaring Twenties The Great Depression 1920 Korean World War War II 1930 1940 Recession 1980-1982 1950 Recession 1974-1975 ليسيسيبلي...............................................................................................ليبيا 300 Recession Vietnam Second 1990-1991 War 1960 Years First oil shock oil shock 2010 2017 MyLab Economics Real-time data According to the figure, which of the following is true regarding business cycles in the United States over the last century? Recession 2008-2009 Recession 2001 1970 1980 1990 2000 O A. Recessions since 1970 have been more extreme than those before 1970. O B. The recovery from the 2008-2009 recession was unusually quick. O C. The long-term trend for economic growth over time in the United States has been flat at roughly 0 percent growth. O D. Business cycles were more extreme before World War II than they were after it.

The figure shows the fluctuations in aggregate output since 1900. Aggregate output (real GDP) in billions of 2009 dollars 17,000+ 14,000 11,000 8,000 6,000- 4,000- 2,000- 1,000- World War I 1900 1910 Roaring Twenties The Great Depression 1920 Korean World War War II 1930 1940 Recession 1980-1982 1950 Recession 1974-1975 ليسيسيبلي...............................................................................................ليبيا 300 Recession Vietnam Second 1990-1991 War 1960 Years First oil shock oil shock 2010 2017 MyLab Economics Real-time data According to the figure, which of the following is true regarding business cycles in the United States over the last century? Recession 2008-2009 Recession 2001 1970 1980 1990 2000 O A. Recessions since 1970 have been more extreme than those before 1970. O B. The recovery from the 2008-2009 recession was unusually quick. O C. The long-term trend for economic growth over time in the United States has been flat at roughly 0 percent growth. O D. Business cycles were more extreme before World War II than they were after it.

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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