Christina Romer's criticism of the belief that business cycles had moderated since World War II depended on the fact that
A) estimates of the timing of business cycles since World War II had been inaccurate.
B) misuse of historical data had caused economists to understate the size of cyclical fluctuations in the post-World War II era.
C) economists had ignored the roles of the government and international trade in mitigating economic fluctuations prior to World War II.
D) economists had left out important components of GDP, such as wholesale and retail distribution, transportation, and services, in their pre-World War II estimates.
Correct Answer:
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Q26: The long boom occurred in the
A)1920s and
Q27: The worst recessions after World War II
Q28: The idea that the business cycle is
Q29: The Great Recession began in _ and
Q30: The Great Depression consisted of how many
Q32: By 1937,when a new recession began in
Q33: The long boom ended in
A)1999.
B)2001.
C)2008.
D)2012.
Q34: The longest economic expansion in the United
Q35: The NBER's Business Cycle Dating Committee picks
Q36: In the Great Depression,the financial sector collapsed,as
A)banks
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