The Long-Run Trend in Real GDP Is Upward

question 114

Essay

The long-run trend in real GDP is upward. How is this possible given business cycles? What explains the upward trend?

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Definitions:

Bolstering

The act of supporting or strengthening something or someone.

Submissive

Inclined or ready to submit or yield to the authority of another; unresistingly or humbly obedient.

Anxious/Ambivalent

Refers to a type of attachment characterized by strong emotional bonds mixed with high levels of anxiety about the strength and availability of the relationship.

Attachment Styles

Patterns of attachment behavior that result from one's childhood experiences with caregivers, influencing relationships and emotional bonds in adulthood.