The text defines economic fluctuations as
A) the rise and fall of real GDP.
B) periods of time when there is excessive GDP volatility.
C) periods of time when the economy is in either a recession or a boom.
D) departure of the economy from its long-term growth trend.
E) the rise and fall of unemployment.
Correct Answer:
Verified
Q10: Potential GDP represents what firms would want
Q11: Economic fluctuations have been common for at
Q12: Economic fluctuations in the United States have
Q13: The 2008-09 recession proved to be mild
Q14: In a boom year,
A)potential GDP equals real
Q16: Manufacturing capacity utilization in normal times typically
Q17: To compare economic fluctuations in different countries,
Q18: Over the period from 1982 to 2007,
Q19: Economic fluctuations have been common only since
Q20: The study of economic fluctuations is
A)more important
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