Author Question: A business cycle trough is a A) small positive deviation from trend in real GDP. B) relatively ... (Read 56 times)

jhjkgdfhk · **on:** Jun 30, 2018

A business cycle trough is a

A) small positive deviation from trend in real GDP.
B) relatively large positive deviation from trend in real GDP.
C) small negative deviation from trend in real GDP.
D) relatively large negative deviation from trend in real GDP.

Question 2

In the new Keynesian model, the effects on output of an anticipated aggregate demand shock are ________.

A) less than if that event was unanticipated
B) greater than if that event was unanticipated
C) the same as would develop if that event was unanticipated
D) independent of whether or not that event is anticipated or unanticipated