Notice that real GDP trends upward over time but experiences ups and downs in th

Question

Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often j referred to as. True or False: Small ups and downs ir real GDP fallow.a consistent, predictable pattern. True False Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1958? Check all that apply Retail sales Increased. Consumer spending increased. The unemployment rate declined. Industrial production declined.

Explanation / Answer

1. Business cycle.

2. True

3. Retail sales increased

   consumer spending increased

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