The Defining Feature of Business Cycles Is That They Are

question 38

Multiple Choice

The defining feature of business cycles is that they are

• A)fluctuations about trend in real GDP.
• B)fluctuations about trend in the level of employment.
• C)fluctuations about trend in the unemployment rate.
• D)changes in the trend component of real GDP.
• E)fluctuations about trend in standards of living.

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Definitions:

Parol Evidence Rule

A principle in contract law that prevents the parties to a written contract from presenting extrinsic evidence of terms of the contract that contradict, modify, or vary the contract's written terms.

Parol Evidence Rule

A legal ruling that prohibits the use of oral statements or previous agreements to contradict or vary the terms of a written contract.

Written Agreement

A formalized record of a contract between parties, detailing the terms and conditions in writing.

Executrix

A female executor; a woman appointed by a will to execute the will's terms and administer the estate of the deceased.