TMobile LTE 1110 0 nublackboardcom Economists use the term b

.T-Mobile LTE 11:10 0 nu.blackboard.com Economists use the term \"business cycle\" to refer to O4.paods of increases and deoeanes in the re of intn 2 points When economic growth takes place at a steady rate, O1 the expansion in output (shift to the right in LRAS) will generally be anticipated by decision makers. the expansion in output can occur without disrupting long-run equabrium O3 other things constant, the growth of output will place downward pressure on the general level of prices. O4all of the above are correct 2 points The primary value of real GDP is its ability to measure year to year changes in 3.real too\" seewe 04.thegrwal ofprees QUESTION 2 2 points Suppose your annual income went up from $60,000 to $63,000 during the past year. During the same time, inflation rate was 5%. This means your real income 2.were down QUESTION 28 Too much money chasing too few goods\" is the expression used to lustrate O2.Demand-pull inflation 2 points During a recession, industries which are affected most are 03. Domesse rashes QUESTION 30 Unemployment rate may be understated if O1 A recession is prolonged for more than a year 2 Discouraged workers are not incided in the survey O3 A significant number of minimum wage rate workers do not find

Solution

Q. 24) Economists use the term \"business cycle\" to refer to: fluctuations in the level of real outptut and employment. [Option 3]

Q. 25) When economic growth takes place at a steady rate, other things constant, the growth of output will place downward pressure on the general level of prices. [Option 3]

Q.26) The primary value of real GDP is its ability to measure year to year real output. [Option 1]

   Explanation:-Real GDP indicates short-term changes in the rate of output of the nation.

Q. 27) Answer:- [Option 4]. The real income was same as your nominal income.

  Explanation:- Due to overall inflationary impact.

Q. 28) \"Too much money chasing too few goods\" is the expression used to illustrate Demand-Pull Inflation. [Option 2].

Q. 29) Domestic Industries are affected most by recession. [Option 3].

Q. 30) Unemployment rate may be understated if discouraged workers are not included in the survey. [Option 2]