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Principles of Macroeconomics

Business

Quiz 11 :

The Nature and Causes of Economic Fluctuations

Quiz 11 :

The Nature and Causes of Economic Fluctuations

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Economic fluctuations in the United States have occurred more and more frequently as time has passed.
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True False
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Answer:

False

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Between December 2007 and June 2009,
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Multiple Choice
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A

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Over the period from 1982 to 2007, economic fluctuations
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D

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The 2008-09 recession proved to be mild and very short-lived.
True False
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To compare economic fluctuations in different countries, one should look at
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Economic fluctuations have been common for at least 200 years, but they have diminished in frequency and severity in the United States and many other countries, particularly in the last 25 years.
True False
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The 2008-09 recession was
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Economic fluctuations have been common only since the beginning of the twentieth century.
True False
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Which of the following statements is false?
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Potential GDP represents what firms would want to produce in "normal times," when the economy is in neither a recession nor a boom.
True False
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Exhibit 23-1 img -According to Exhibit 23-1, which of the following best explains the change in real GDP from year B to year D?
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Changes in aggregate demand occur when
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The text defines economic fluctuations as
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The economy's long-term growth trend for GDP is known as real GDP and is determined by the available supply of capital, labor, and technology.
True False
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When the unemployment rate is equal to the natural unemployment rate, capacity utilization is usually close to
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The study of economic fluctuations is
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In a boom year,
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Manufacturing capacity utilization in normal times typically equals
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Between 2001 and 2007
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At the end of a recession
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