(hw33)Note:- Please consider this as one whole question these are not separate questions. For this question need all the possible correct answer as soon as possible. 1. Key facts about economic fluctuationsThe following graph approximates business cycles in the United States from the first quarter of 1953 to the third quarter of 1957. The vertical blue barcoincides with periods of 6 or more months of declining real gross domestic product (real GDP).2700280025002400230019531954195519561957YEARSource: "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.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 asTrue or False: Small ups and downs in real GDP follow a consistent, predictable pattern.O TrueFalseWhich of the following probably occurred as the U.S. economy experienced increasing real GDP in 1954? Check all that apply.O The unemployment rate declined.O Consumer spending declined.O Car sales declined.O Total real income increased.REAL GDP (Billions of dollars)

Business cycle False The unemployment rate declined and the rise in total real income is the reason for the increased GDP of the U.S. in 1954.The business cycle is the economic cycle in which the gross domestic product has fluctuated in long-term growth. The economy will rise and fall over some time. It can be referred to as short-term fluctuation in the GDP. The business cycle is never consistent and cannot be predictable to reduce the fall in the economy. Therefore, the given statement is false that the ups and downs in the GDP is consistent and in a predictable pattern. Increased GDP means an increase in the total income of the consumers and declining in the unemployment rate. The U.S. economy is also experienced the following in 1954 and increases GDP.

Business

Economics

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 True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. O True O False Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1954? Check all that apply. O The unemployment rate declined. O Consumer spending declined. O Car sales declined. O Total real income increased.

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 True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. O True O False Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1954? Check all that apply. O The unemployment rate declined. O Consumer spending declined. O Car sales declined. O Total real income increased.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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