In the Twentieth Century, Fluctuations in Real GDP Were

question 94

Multiple Choice

In the twentieth century, fluctuations in real GDP were

• A) less severe during the last 50 years than was true during the first half of the century.
• B) virtually eliminated as the result of the countercyclical application of fiscal policy.
• C) more severe during the last 50 years than was true during the first half of the century.
• D) primarily the result of a fiscal policy that has persistently balanced the federal budget.

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Definitions:

Governments

Organizational entities responsible for overseeing the functioning and governance of a nation, state, or community.

Nonroutine Action

Actions that are not typical or customary, often requiring unique or creative approaches to solve problems or address situations.

Values and Norms

Sets of shared beliefs and guidelines in a society that dictate what is considered acceptable and unacceptable behavior.

Organized

Structured or arranged systematically, often referring to activities or groups with clear rules or objectives.