A recession is defined as a period when the
a. real GDP increases less than 3 percent.
b. real GDP falls by at least 5 percent in a single quarter.
c. nominal GDP declines for two consecutive quarters.
d. real GDP falls for two consecutive quarters.
d. real GDP falls for two consecutive quarters.
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Explanations for the low U.S. saving rate include all of the following EXCEPT:
A. large capital gains in the stock market. B. low real interest rates relative to the rest of the world. C. government programs that provide income for the elderly. D. low down payments required to purchase homes.
A change in the dollar value of the British pound from $1.60 to $1.50 represents
A) an increase in the pound price of British goods. B) an appreciation of the dollar relative to the pound. C) an appreciation of the pound relative to the dollar. D) an increase in the dollar price of British goods.
Other things the same, if the U.S. interest rate rises, what happens to the net capital outflow of other countries?
According to the availability heuristic, which of the following will make Katie more likely believe that she will win a lot of money if she buys a lottery ticket?
A. The fact that it has been several years since she purchased a lottery ticket B. The fact that is has been several years since anyone has won the lottery C. Her boss hinting that she will soon receive a raise at work D. Watching a news report about someone winning 2 million dollars playing the lottery