The Great Recession was different from a typical recession since World War Il in that a) the rate of unemployment increased and then decreased at a later time. O b) the economy did not return to normal for at least one year. Oc) the overall economy took far longer to recover than the typical recession. d) real gross domestic product (GDP) initially declined and then recovered sometime later. e) most consumers were unaffected by the recession.
The Great Recession was different from a typical recession since World War Il in that a) the rate of unemployment increased and then decreased at a later time. O b) the economy did not return to normal for at least one year. Oc) the overall economy took far longer to recover than the typical recession. d) real gross domestic product (GDP) initially declined and then recovered sometime later. e) most consumers were unaffected by the recession.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The Great Recession was different from a typical recession since World War Il in that
a) the rate of unemployment increased and then decreased at a later time.
O b) the economy did not return to normal for at least one year.
c) the overall economy took far longer to recover than the typical recession.
d) real gross domestic product (GDP) initially declined and then recovered
sometime later.
e) most consumers were unaffected by the recession.
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