When an Economist Indicates That the Economy Is No Longer

question 42

Multiple Choice

When an economist indicates that the economy is no longer in a slump, he or she means to say that

• A)nominal GDP is now above its trend path
• B)the economy is currently growing at a rate above three percent
• C)the economy has passed the worst of a recession and is now in the recovery phase
• D)the economic cycle has reached its peak
• E)none of the above

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Definitions:

Proximal Stimulus

The stimulus registered by the sensory receptors, for example, the pattern of light that hits the retina.

Immune System

The body's defense mechanism against pathogens, comprising various organs, tissues, and cells.

Grass Pollen

Microscopic grains released by grasses for the purpose of fertilization, often a common allergen for many people.

Allergen

A substance that can cause an allergic reaction in individuals who are sensitive to it, ranging from mild to severe responses.