1. Key facts about economic fluctuationsThe graph included below approximates United States business cycles between quarter one of 1947 and quarter three of 1951. The shaded regiondenotes periods of six or more consecutive months of declining real gross domestic product (real GDP).W104810401000YEARREAL GDP (Billions of dollars)2170207019701870177010471001Source: "Current-dollar and Real GOR" Bureau of Economics Analysis. last modified May 1, 13. accessed May 15. 13. http://www.bea.gov/national/xl/gdplev..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 REAL18701770104710401040YEARO TrueO False1950Source: "Current-delar and Real GDR Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 12, Mtp://www.bea.gov1901Notice 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 asTrue or False: Short-term fluctuations in real GDP are irregular and unpredictable.The unemployment rate declined.Total real income increased.Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1950? Check all that apply.Car sales declined.Consumer spending declined.odple.

The graphical representation highlights the business cycle of the US economy running between 1947 to…

Answered: 1479 1770 1047 1040 1040 O True O False…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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D Question 36 Assume that an economy's actual output increased over a decade but it experienced deflation throughout that entire time. Which of the following statements is correct? o The country's nominal GDP increased, but nothing can be stated with certainty regarding any change in real GDP. o The country's real GDP increased, and its nominal GDP stayed the same. O The country's real GDP increased, but nothing can be stated with certainty regarding any change in nominal GDP. o The country's real GDP increased, and its nominal GDP decreased. o The country's nominal GDP decreased, but nothing can be stated with certainty regarding any change in real GDP. Question 37 Decreases in the costs of key inputs cause the AS curve to shift to the right. O True O False
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Figure 13-4 Price level LRAS LRAS SRAS, SRAS 112 10 AD AD 110 Real GDP (tritlions of dollars) 121 Refer to Figure 13-4. In the figure above LRAS, and SRAS, denote LRAS and SRAS in year 1, while LRAS, and SRAS, denote LRAS and SRAS in year 2. Given the economy is rate in potentlal GDP in year 22 Select one: Oa 10% O b. 1296 O d. 9.196
Browser Real GDP Rate of Wage Change Economy A 300 -1.0% Economy B 320 -0.5% Economy C 340 0% Economy D 360 +3.5% Economy E 380 +6.0% TABLE 24-1 Refer to Table 24-1. Which of the following statements best describes the situation facing Economy B? a) There is an inflationary gap of $40 billion and wages are rising. b) There is a recessionary gap of $40 billion and wages are falling slowly. c) There is no output gap and wages are stable. d) There is a recessionary gap of $20 billion and wages are falling slowly. e) There is an output gap of $20 billion and wages are rapidly adjusting.
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