During recessions, changes in investment spending are the biggest contributor to changes in
a) retail sales.
b) consumer spending.
c) real GDP.
d) personal income.
Ans: c) real GDP.
You might also like to view...
Explain the difference between a nominal value and a real value
What will be an ideal response?
Which of the following would likely cause the dollar to appreciate?
a) Lower interest rates in the United States. b) An increase in United States citizens' preference for foreign goods. c) Income growth of the United States lagging behind that of other countries. d) Rising inflation in the United States.
The Federal Reserve System was founded in:
A. 1913. B. 1929. C. 1933. D. 1935.
The figure illustrates the market for pens. The equilibrium quantity is
A) between 400 and 600 pens, but it is impossible to be precise. B) 5 pens a month. C) 2 pens a month. D) 500 pens a month.