While hurricane Katrina severely disrupted the normal flow of economic activity in the Gulf Coast States in 2005, in the periods following the hurricane
a. the price level fell below 100
b. unemployment in the U.S. spiked
c. aggregate demand increased, sparked by the need for reconstruction
d. real GDP fell to 1980's levels
e. imports rose dramatically
C
Economics
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A nation's population was 250 million last year and is 255 million this year. If its real GDP was $8.5 trillion last year and is $8.8 trillion this year, what is its growth rate of real GDP per person?
What will be an ideal response?
Economics
Which of the following is a period of decreasing output that is severe and long lasting?
a. business cycle b. expansion c. peak d. recession e. depression
Economics