Among the Structural Changes That Have Made Recessions Less Severe

question 39

Multiple Choice

Among the structural changes that have made recessions less severe in recent years is the

• A) willingness of the federal government to balance the budget each and every year.
• B) fact that firms on average now hold much larger inventories, which serve as buffers to unexpected shocks.
• C) fact that the service sector now dominates the U.S. economy, and the demand for services is typically more stable than that for goods.
• D) decision by the Fed to adhere to a strict money growth rate rule.
• E) rapid growth in productivity in basic manufacturing industries such as steel and chemicals.

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