The Defining Feature of Business Cycles Is That They

question 4

Multiple Choice

The defining feature of business cycles is that they

• A) are inherently bad.
• B) represent the underlying trend of real GDP in the economy.
• C) are fluctuations about trend in real GDP.
• D) measure prospects for future growth in the economy.
• E) measure standards of living and productivity.

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Definitions:

Food Production

The process of cultivating food crops and raising animals for consumption, an essential component of human civilization and survival.

Independent Invention

the process through which different societies or cultures independently create or discover similar technologies, practices, or ideas without direct influence from each other.

Oasis Theory

A theory suggesting that agriculture and the domestication of animals originated in areas where water resources such as rivers and lakes are abundant.