he figure given below represents the business cycle of an economy.
Figure 7.1
-Refer to Figure 7.1. The overall upward trend in real GDP reflected by this figure implies that:
A) the real GDP gap is widening over time.
B) cyclical unemployment is growing at positive rates.
C) consumer purchasing power is rising over time.
D) on average, labor productivity is declining.
E) expansionary phases outweigh contractionary phases in the economy over time.
Correct Answer:
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Q1: he figure given below represents the business
Q2: The long-run growth in the economy depends
Q4: In the business cycle, a trough marks
Q6: A leading indicator:
A)changes in either direction before
Q7: The part of a business cycle that
Q8: Which of the following individuals will not
Q11: Which of the following is observed in
Q12: Which of the following monthly data series
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