The Defining Feature of Business Cycles Is That They

question 54

Multiple Choice

The defining feature of business cycles is that they

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

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Definitions:

Continuing Behavior

Persistent actions or activities that an individual keeps doing over a period of time.

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort due to conflicting beliefs, attitudes, or behaviors.

Coaction Effects

The impact on performance of the presence of other people engaged in the same task.

Source Confusion

Source Confusion is a memory error where individuals are unable to recall the true source of a memory, leading to misattribution of the information's origin.