All of the following are characteristics of short-term economic fluctuations EXCEPT
A) expansions and recessions are felt throughout the economy.
B) expansions and recessions are irregular in length and severity.
C) unemployment falls sharply during recessions.
D) durable-goods industries are more sensitive to short-term fluctuations than service and non-durable industries.
E) recessions tend to be followed by a decline in inflation.
Correct Answer:
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