2000 Real GDP Consider the following figure to answer the next three questions: 2001 2004 2005 2008 2009 Long-run Short-run path trend of GDP 2013 Time 18. During which period was the economy in an expansion? a. 2005-2009 b. 2000-2004 c. 2009-2013 d. 2004-2008 e. 2000-2012 19. During which period was the economy in a contraction? a. 2001-2005 b. 2008-2009 c. 2004-2008 d. 2005-2008 e. 2000-2004

2000 Real GDP Consider the following figure to answer the next three questions: 2001 2004 2005 2008 2009 Long-run Short-run path trend of GDP 2013 Time 18. During which period was the economy in an expansion? a. 2005-2009 b. 2000-2004 c. 2009-2013 d. 2004-2008 e. 2000-2012 19. During which period was the economy in a contraction? a. 2001-2005 b. 2008-2009 c. 2004-2008 d. 2005-2008 e. 2000-2004

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 10SCQ: Explain briefly whether each of the following would cause GDP to overstate or understate the degree...

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