The Great Moderation refers to
A) Dramatic fall in business cycle volatility that occurred from the mid-1980s to the mid-2000s
B) The general fall in business cycle volatility after the second world war
C) The fall in global output that occurred after 2007
D) Improved monetary policy since the mid-1980s
E) Improved fiscal policy since the mid-1980s
Correct Answer:
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Q11: Output in excess of potential GDP
A) implies
Q12: According to Real Business Cycle theory,
A) lack
Q13: Business cycles are
A) seasonal changes in output
B)
Q14: A large negative output gap
A) represents a
Q15: Which of the following variables typically moves
Q17: A growth recession occurs when
A) there are
Q18: A traditional definition of recession is
A) any
Q19: Comparisons of business cycles before and after
Q20: Which of the following is characteristic of
Q21: Which of the following can create a
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