When a macroeconomic aggregate is countercyclical:It grows faster than GDP.It grows slower than GDP.O Its deviations from trend are more often of the opposite sign as the deviations fromtrend in GDP.It doesn't move with changes of the GDP. If the slope of the production function is constant:Marginal productivity of labor decreases.The production function presents constant returns to scale.Marginal productivity of labor increases.Marginal productivity of labor is constant.

A macroeconomic aggregate that is negatively related to the growth of the economy/GDP is a…

When a macroeconomic aggregate is countercyclical: O It grows faster than GDP. O It grows slower than GDP. O Its deviations from trend are more often of the opposite sign as the deviations from trend in GDP. O It doesn't move with changes of the GDP.

When a macroeconomic aggregate is countercyclical: O It grows faster than GDP. O It grows slower than GDP. O Its deviations from trend are more often of the opposite sign as the deviations from trend in GDP. O It doesn't move with changes of the GDP.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 20CTQ: U.S. macroeconomic data are among the best in the world. Given what you learned in the Clear It Up...

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Question

When a macroeconomic aggregate is countercyclical:
It grows faster than GDP.
It grows slower than GDP.
O Its deviations from trend are more often of the opposite sign as the deviations from
trend in GDP.
It doesn't move with changes of the GDP.

If the slope of the production function is constant:
Marginal productivity of labor decreases.
The production function presents constant returns to scale.
Marginal productivity of labor increases.
Marginal productivity of labor is constant.

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