When real GDP falls toward a low point or trough it is called a[n]:
A) boom.
B) recession.
C) inflation.
D) expansion.
Correct Answer:
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Q7: Among the prices that macroeconomists study are:
A)the
Q8: Fiscal policy involves:
A)determining exchange rates.
B)government expenditures.
C)interest rates.
D)all
Q9: The unemployment rate is:
A)the fraction of the
Q10: The unemployment rate in France was highest
Q11: Macroeconomists study the price of individual products
Q13: When GDP is expanding toward a high
Q14: If price is below equilibrium in a
Q15: A recession is when GDP is falling
Q16: Variations in real GDP are called:
A)inflation.
B)deflation.
C)economic fluctuations.
D)all
Q17: The rate of growth of GDP for
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