Which statement best describes economic fluctuations?
A) Expansions and contractions typically have about the same lengths.
B) Expansions typically last 7 years,while recessions typically last 3 years.
C) Expansions tend to be shorter than contractions.
D) The percent change in output is larger during recessions than during expansions.
E) Expansions and contractions vary in duration and magnitude,with expansions tending to last longer than contractions.
Correct Answer:
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Q2: Which of the following best defines an
Q3: Which of the following is true in
Q4: You are reading a newspaper article that
Q5: Since 1960,real GDP has fluctuated to some
Q6: As the economy goes through an expansion,
A)
Q7: What would a leftward shift of the
Q8: Which of the following occurs during a
Q9: An economic expansion reflects
A) any movement from
Q10: When GDP is rising,the economy is experiencing
A)
Q11: A student seeking a job right after
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