Multiple Choice
A period of expansion in the business cycle ends when
A) real GDP is equal to potential GDP.
B) the business cycle reaches its peak.
C) the business cycle reaches its trough.
D) real GDP is less than potential GDP.
Correct Answer:
Verified
Correct Answer:
Verified
Q9: Technological advances generally result in<br>A)decreased incomes.<br>B)increased life
Q10: An increase in the real interest rate
Q11: Which of the following is most likely
Q12: An increase in the government budget surplus
Q13: Potential GDP was estimated to grow at
Q15: The key to sustained economic growth is
Q16: What is the name of the organization
Q17: Figure 10-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1236/.jpg" alt="Figure 10-2
Q18: A government budget surplus from reduced government
Q19: In a closed economy,public saving is equal