MA Chapter 10.rtf - CHAPTER 10\u2014ECONOMIC FLUCTUATIONS MULTIPLE CHOICE 1 Since 1960 real GDP has fluctuated to some extent however there has been

MA Chapter 10.rtf - CHAPTER 10—ECONOMIC FLUCTUATIONS...

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CHAPTER 10—ECONOMIC FLUCTUATIONSMULTIPLE CHOICE1.Since 1960, real GDP has fluctuated to some extent; however, there has been virtually no overall growth when the entire time span is considered.a.Trueb.FalseANS: BPTS:1DIF:1NAT:Financial theories, analysis, reporting, and marketsLOC:Understanding and applying economic modelsTOP:Can the Classical Model Explain Economic Fluctuations?2.Recessions typically last longer than expansions.a.Trueb.FalseANS: BPTS:1DIF:1NAT:Financial theories, analysis, reporting, and marketsLOC:Understanding and applying economic modelsTOP:Can the Classical Model Explain Economic Fluctuations?3.Which of the following statements best describes the U.S. economy since 1960?4.During recessions, output5.A student seeking a job right after graduation should be especially attentive to
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6.GDP as predicted by the classical model isa.lower than the actual level of GDPb.higher than the actual level of GDPc.smoother and steadier than actual GDPd.more unstable over time than actual GDPe.an accurate predictor of actual GDPANS: CPTS:1DIF:3NAT:Financial theories, analysis, reporting, and marketsLOC:Understanding and applying economic modelsTOP:Can the Classical Model Explain Economic Fluctuations?
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