The period of growth from the level of the previous peak to a new peak in Real GDP is called a
A. recession.
B. expansion.
C. recovery.
Answer: B
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All else equal, as the price of a product falls, the quantity supplied increases
Indicate whether the statement is true or false
How has the financing of elementary and secondary education changed in the United States since 1940? What is the primary reason for this trend?
What will be an ideal response?
Which of the following would increase output in the short run?
a. an increase in stock prices makes people feel wealthier b. government spending increases c. firms chose to purchase more investment goods d. All of the above are correct.
Refer to the graph shown. An increase in the U.S. price level would shift:
A. D1 left and S1 right, causing a depreciation of the euro. B. D1 right and S1 right, causing a depreciation of the euro. C. D1 left and S1 left, causing an appreciation of the euro. D. D1 right and S1 left, causing an appreciation of the euro.