Long-run growth is the:
A) sustained upward trend in aggregate output per person over several decades.
B) expansion phase of business cycles.
C) downturn phase of business cycles.
D) sustained downward trend in the employment rate over several decades.
Correct Answer:
Verified
Q95: A depression occurs when:
A) both output and
Q96: If wages grew at 5% last year
Q97: Which statement is TRUE?
A) In the past
Q98: Which statement about the U.S. economy is
Q99: If workers' nominal wages have risen by
Q101: Inflation affects people adversely because:
A) nominal income
Q102: Which statement is CORRECT?
A) Supply and demand
Q103: Price stability occurs when:
A) the overall price
Q104: With regard to the aggregate price level,
Q105: Which statement is TRUE about inflation and
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