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 bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP).   Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, such as the blue-shaded period in 1957, is known as         .   True or False: Small ups and downs in real GDP follow a consistent, predictable pattern.   True   False     Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1957?  Check all that apply.   Industrial production increased.   Home sales increased.   Consumer spending declined.   Retail sales declined.

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