A country has a current account deficit if it is saving more than it is investing domestically.

The NBER describes a recession as

A) "a decrease in the standard of living for at least one year." B) "a decrease in potential GDP for at least six months." C) "a one year period with increases in the unemployment rate." D) "a period of significant decline in total output, income, employment, and trade, usually lasting from six months to a year." E) "a decrease in real GDP for two successive quarters."

Extreme monetarists assert that changes in the money supply

A. Affect prices and the unemployment rate. B. Can affect only real GDP. C. Can affect only the price level. D. Affect prices and real GDP.