Data on annual percentage changes in real GDP, consumption, and investment in the United States shows that fluctuations in investment _____
a. are noticeably smaller during expansions than during recessions
b. are roughly similar to fluctuations in consumption
c. are roughly similar to fluctuations in GDP
d. are closely followed by economic forecasters because those fluctuations often signal that a recession will occur
e. account for most of the variability in GDP
e
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The short-run aggregate supply curve would shift and the long-run aggregate supply curve would remain fixed if
A) there was a temporary shock that influenced the supply side. B) there was a permanent increase in aggregate demand along with a permanent decrease in aggregate supply. C) there was a permanent increase in aggregate demand. D) there was a temporary shock to aggregate demand.
A graph of the value of one variable against the value of another variable is known as a
A) two-dimensional graph. B) three-dimensional graph. C) time-series graph. D) scatter diagram. E) two-variable graph.