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 referred to as . True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. True False Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1954? Check all that apply. Total real income increased. The unemployment rate declined. Car sales declined. Consumer spending declined.

Answer 1

1. The business cycle.

2. False.

3. Consumer spending declined;The unemployment rate declined.

Step-by-step explanation:

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 referred to as the business cycle.

Consumer spending declined and the unemployment rate declined as the U.S. economy experienced increasing real GDP in 1954.