1-The business cycle illustrates the long-run fluctuations of
real gdp
2- In a hypoth...
1-The business cycle illustrates the long-run fluctuations of
real gdp
2- In a hypothetical economy, current inflation-…, the economy is currently in the
expansion stage of the business cycle
3-what is the minimum number of quarters with successive declines in real gdp that must occur before an economy is considered to be in recession?
two
4-in addition to low economic output, recessions are usually characterized by…
High unemployment
5-a hurricane has recently disrupted supply chains…., how would this economic impact be classified?
shock
All correct, just took the quick check
Answers: 3
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