Two striking features of a graph of U.S. real GDP per capita over the twentieth century are the:
A) overall upward trend interrupted by a large downturn in the 1930s.
B) nearly constant level with a large downturn in the 1930s.
C) downward trend in the first half of the century followed by the upward trend in the second half.
D) constant level in the first half of the century followed by the upward trend in the second half.
Correct Answer:
Verified
Q2: A severe recession is called a(n):
A) depression.
B)
Q3: The study of the economy as a
Q4: Deflation occurs when:
A) real GDP decreases.
B) the
Q5: In the U.S. economy today, real GDP
Q8: The inflation rate in the United States
Q9: A measure of how fast prices are
Q10: Real GDP _ over time and the
Q11: All of the following are types of
Q20: Recessions are periods when real GDP:
A) increases
Q32: A graph of the rate of inflation
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