The business cycle refers to
A) fluctuations in the level of real GDP around potential GDP.
B) changes in the level of nominal GDP.
C) changes in the level of the stock market.
D) changes in the level of employment.
Correct Answer:
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Q200: Potential GDP is
A) another name for real
Q201: A common definition of a recession is
Q202: A common definition of a recession is
Q203: The term "business cycle" most closely refers
Q204: In any year, real GDP
A) must always
Q206: Business cycles are
A) irregular, with some having
Q207: The four parts of the business cycle
Q208: Real GDP
A) fluctuates from year to year
Q209: Which of the following is TRUE regarding
Q210: In any year, real GDP
A) must always
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