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Questions and Answers
Which of the following is NOT a characteristic of business cycles?
Which of the following is NOT a characteristic of business cycles?
- Fluctuations in macroeconomic variables
- Changes in real income
- Expansion followed by recession
- Stable economic activity (correct)
How is a recession defined in the United States?
How is a recession defined in the United States?
- A decline in real GDP and real income
- A decline in economic activity lasting more than a few months (correct)
- A decline in wholesale-retail sales
- A decline in industrial production and employment
What is typically used to measure business cycles?
What is typically used to measure business cycles?
- Employment
- Real income
- Real Gross Domestic Production (correct)
- Wholesale-retail sales
How do individual episodes of expansion and recession occur in business cycles?
How do individual episodes of expansion and recession occur in business cycles?
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Which of the following is a common characteristic of business cycles?
Which of the following is a common characteristic of business cycles?
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What is one way to measure business cycles?
What is one way to measure business cycles?
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How is a recession defined in the United States?
How is a recession defined in the United States?
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What are business cycle fluctuations usually characterized by?
What are business cycle fluctuations usually characterized by?
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How do individual episodes of expansion and recession occur in business cycles?
How do individual episodes of expansion and recession occur in business cycles?
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