Which of the following statements is true?
A) Another name for capital consumption allowance is depreciation.
B) When there are two consecutive quarterly declines in Real GDP the economy is said to be in recession (based on the standard definition).
C) The expansion of a business cycle refers to increases in Real GDP beyond the recovery.
D) a and b
E) a, b, and c

Question

Quizplus · Accepted Answer

All three statements are true: A) Capital consumption allowance is indeed another term for depreciation. B) Two consecutive quarterly declines in Real GDP typically indicate a recession. C) Expansion in a business cycle refers to growth in Real GDP beyond recovery.

Which of the Following Statements Is True