Business cycle persistence refers to the property that
A) real GDP is rarely exactly at trend.
B) booms and recessions last a long time.
C) when real GDP is above trend, it tends to stay above trend, and when it is below trend, it tends to stay below trend.
D) business cycles are persistently hard to predict.
C
You might also like to view...
The Lithuanian tax rate for all citizens' income is 24 percent and in Estonia, the tax rate is 21 percent. Lithuanian and Estonian income tax systems are examples of ________ taxes
A) proportional B) progressive C) regressive D) equality
The substitution effect of a decrease in the price of movie tickets results in
A) a decrease in the quantity of movie tickets demanded. B) an increase in the demand for movie tickets. C) an increase in the quantity of movie tickets demanded. D) a decrease in the demand for movie tickets.
Which of the following is an accurate statement about landlords who handle rent-controlled apartments?
a. They often must rent to people they are biased against. b. They often discriminate against possible “undesirable” renters. c. They often prefer renting to people with low incomes. d. They often have few possible renters to choose from.
In 2015 Head Start's budget was approximately
A. $8.2 trillion. B. $8.2 million. C. $820 billion. D. $8.2 billion.