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Chapter 9 test bank 2024/2025 updated Questions And Answers 100% correct Verified
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*Recurring upswings and downswings* in an economy's real *GDP* over time are called A. recessions. B. business cycles. C. output yo-yos. D. total product oscillations.B In the United States, *business cycles* have occurred against a *backdrop of a long-run trend* of A. declining unemployment. B. stagnant productivity growth. C. rising real GDP. D. rising inflation.C *Most economists* agree that the *immediate determinant of the volume of output and employment* is the A. *composition* of consumer spending. B. *ratio* of public goods to private goods production. C. *level* of total spending. D. *size* of the labor force.C
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