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Macroeconomics Study Set 48
Quiz 6: Macroeconomics: the Big Picture
Following a Trough, Real Gdp Increases
Question 127
True False
Following a trough, real GDP increases.
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Expansions are periods when real GDP and employment are growing.
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Recessions are periods in which output and employment are falling.
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Business cycles are defined by the expansion, contraction, then expansion again of nominal GDP.
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