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: Short-term fluctuations in real GDP are irregular and unpredictable.TrueFalseWhich of the following probably occurred as the U.S. economy experienced declining real GDP in 1957? Check all that apply.Consumer spending increased.Corporate profits declined.Total real income declined.The unemployment rate increased.O O The following graph approximates business cycles in the United States from the first quarter of 1955 to the third quarter of 1959. The vertical blue barcoincides with periods of 6 or more months of declining real gross domestic product (real GDP).2800270026002500240019551956195719581959YEARREAL GDP (Billions of dollars)

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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: Short-term fluctuations in real GDP are irregular and unpredictable. O True O False Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1957? Check all that apply. O Consumer spending increased. O Corporate profits declined. O Total real income declined. O The unemployment rate 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: Short-term fluctuations in real GDP are irregular and unpredictable. O True O False Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1957? Check all that apply. O Consumer spending increased. O Corporate profits declined. O Total real income declined. O The unemployment rate 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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