Fluctuations in Real GDP Are Caused Only by Changes in Aggregate

question 136

True/False

Fluctuations in real GDP are caused only by changes in aggregate demand and not by changes in aggregate supply.

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Definitions:

Student Number-Class Ratio

The proportion representing the average number of students per class in an educational institution.

Social Assistance

Government-provided financial or in-kind help extended to individuals or families in need to secure basic living standards, such as food, shelter, and health care.

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment.

Cancellation Fee

A charge that may be imposed for terminating a service or contract before its agreed-upon end date.