Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. O True False Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1948? Check all that apply. Consumer spending increased. Corporate profits declined. Car sales increased. Total real income declined.
Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. O True False Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1948? Check all that apply. Consumer spending increased. Corporate profits declined. Car sales increased. Total real income declined.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 7QR
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