1. Key facts about economic fluctuations Help me check it !!!The following graph approximates business cycles in the United States from the first quarter of 1953 to the third quarter of 1957. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 2600V25002400REAL GDP (Billions of dollars)270023001953TrueFalse1954Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13, http://www.bea.gov/national/xls/gdplev.xls.True or False: Short-term fluctuations in real GDP are irregular and unpredictable.Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are oftenreferred to as the business cycleHome sales declined.1955YEAR1956Industrial production declined.Retail sales increased.Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1954? Check all that apply.1957Consumer spending increased.?

Economic fluctuations are simply oscillations in the position of the public income of a country…

Answered: 1. Key facts about economic…

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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1. Key facts about economic fluctuations Help me check it !!!

The following graph approximates business cycles in the United States from the first quarter of 1953 to the third quarter of 1957. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP).

2600
V
2500
2400
REAL GDP (Billions of dollars)
2700
2300
1953
True
False
1954
Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13, http://www.bea.gov/national/xls/gdplev.xls.
True or False: Short-term fluctuations in real GDP are irregular and unpredictable.
Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often
referred to as the business cycle
Home sales declined.
1955
YEAR
1956
Industrial production declined.
Retail sales increased.
Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1954? Check all that apply.
1957
Consumer spending increased.
?

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