The Widespread Decline in the Volatility of Many Macroeconomic Variables

question 37

Multiple Choice

The widespread decline in the volatility of many macroeconomic variables after 1984 led economists to term this period the

• A)Great Moderation.
• B)Low Volatility Era.
• C)Steady State.
• D)Long Boom.

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Definitions:

1940s

The decade from 1940 to 1949, marked by significant events including World War II, the start of the Cold War, and major societal changes worldwide.

Rosie The Riveters

The cultural icon representing women who worked in factories and shipyards during World War II, contributing to the war effort.

Wartime Identity

The sense of self and group affiliation that is developed or emphasized during periods of war, often characterized by heightened nationalism or solidarity.

Traditional Roles

Socially and culturally defined roles and responsibilities often assigned to individuals based on gender, age, or status within a society.