The figure shows the fluctuations in aggregate output since 1900. Aggregate output (real GDP) in billions of 2009 dollars 17,000+ 14,000 11,000 8,000 6,000- 4,000- 2,000- 1,000- World War I 1900 1910 Roaring Twenties The Great Depression 1920 Korean World War War II 1930 1940 Recession 1980-1982 1950 Recession 1974-1975 ليسيسيبلي...............................................................................................ليبيا 300 Recession Vietnam Second 1990-1991 War 1960 Years First oil shock oil shock 2010 2017 MyLab Economics Real-time data According to the figure, which of the following is true regarding business cycles in the United States over the last century? Recession 2008-2009 Recession 2001 1970 1980 1990 2000 O A. Recessions since 1970 have been more extreme than those before 1970. O B. The recovery from the 2008-2009 recession was unusually quick. O C. The long-term trend for economic growth over time in the United States has been flat at roughly 0 percent growth. O D. Business cycles were more extreme before World War II than they were after it.

The figure shows the fluctuations in aggregate output since 1900. Aggregate output (real GDP) in billions of 2009 dollars 17,000+ 14,000 11,000 8,000 6,000- 4,000- 2,000- 1,000- World War I 1900 1910 Roaring Twenties The Great Depression 1920 Korean World War War II 1930 1940 Recession 1980-1982 1950 Recession 1974-1975 ليسيسيبلي...............................................................................................ليبيا 300 Recession Vietnam Second 1990-1991 War 1960 Years First oil shock oil shock 2010 2017 MyLab Economics Real-time data According to the figure, which of the following is true regarding business cycles in the United States over the last century? Recession 2008-2009 Recession 2001 1970 1980 1990 2000 O A. Recessions since 1970 have been more extreme than those before 1970. O B. The recovery from the 2008-2009 recession was unusually quick. O C. The long-term trend for economic growth over time in the United States has been flat at roughly 0 percent growth. O D. Business cycles were more extreme before World War II than they were after it.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The figure shows the fluctuations in aggregate output since 1900.
Aggregate output (real GDP) in billions of 2009 dollars
17,000-
14,000-
11,000-
8,000-
6,0000
4,000
2,000
1,000
World
War I
300
1900 1910 1920
Roaring
Twenties
The Great
Depression
World
War II
Korean
War
1930 1940 1950
Recession
1980-1982
Recession
1974-1975
1960
Years
Recession
Vietnam Second 1990-1991
War First oil shock
oil shock
.....................
1970
1980
Recession
2008-2009
Recession
2001
1990 2000 2010 2017
MyLab Economics Real-time data
According to the figure, which of the following is true regarding business cycles in the United States over the last century?
O A. Recessions since 1970 have been more extreme than those before 1970.
O B. The recovery from the 2008-2009 recession was unusually quick.
O C. The long-term trend for economic growth over time in the United States has been flat at roughly 0 percent growth.
O D. Business cycles were more extreme before World War II than they were after it.

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