Business Cycle Persistence Refers to the Property That

question 1

Multiple Choice

Business cycle persistence refers to the property that

• A)booms and recessions last a long time.
• B)when real GDP is above trend, it tends to stay above trend, and when it is below trend, it tends to stay below trend.
• C)real GDP tends to stay in the peaks and troughs of the business cycle.
• D)real GDP is rarely exactly at trend.
• E)business cycles are persistently hard to predict.

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Definitions:

Range Maximum

The highest value within a designated range, often used in contexts such as salary scales where it represents the top salary available for a particular position.

Published Wage Surveys

Research studies distributed publicly that report on the common wages and salaries across various industries or positions.

Compatibility

The degree to which two systems, devices, or substances are able to work or exist together without conflict or problems.

Broadbands

A compensation structure that consolidates many narrow pay grades into fewer, wider bands, allowing more flexibility in job roles and pay adjustments.