Author Question: Which of the following is true of the business cycle record of the United States? a. Recessions ... (Read 54 times)

evelyn o bentley · **on:** Jun 30, 2018

Which of the following is true of the business cycle record of the United States?
a. Recessions have been lengthier during the last two decades than was true prior to 1980.
b. Real GDP contracted throughout most of the 1950s.
c. Real GDP in 2000 was approximately the same as 1950.
d. Since 1950, the fluctuations in GDP have been less severe than before 1950.

Question 2

Other factors held constant, a decrease in resource prices will shift the aggregate:
a. demand curve leftward.
b. demand curve rightward.
c. supply curve leftward.
d. supply curve rightward.