home assignments in Chapter 22

Home assignments in - 1 A period in which the economy is growing at a rate significantly below normal is called a(n A expansion B boom C peak D

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1. A period in which the economy is growing at a rate significantly below normal is called a(n): A. expansion. B. boom. C. peak. D. recession. 2. An informal definition of a recession is at least ___ consecutive quarters of declining real GDP. A. 2 B. 4 C. 6 D. 8 3. During recessions the change in real GDP is: A. always positive. B. always negative. C. usually positive, but can be negative. D. usually negative, but can be positive. 4. A depression is: A. a particularly severe and protracted recession. B. the high point of economic activity prior to a downturn. C. the low point of economic activity prior to a recovery. D. a particularly strong and protracted expansion. 5. In reference to short-term economic fluctuations, the "peak" refers to: A. a period in which the economy is growing at a rate significantly above normal. B. the high point of economic activity prior to a downturn. C. the low point of economic activity prior to a recovery. D. a particularly strong and protracted expansion.
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6. In reference to short-term economic fluctuations, the "trough" refers to: A. a period in which the economy is growing at a rate significantly below normal.
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This note was uploaded on 04/09/2012 for the course MACROECONO 100 taught by Professor Py during the Spring '12 term at Alabama A&M University.

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Home assignments in - 1 A period in which the economy is growing at a rate significantly below normal is called a(n A expansion B boom C peak D

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