The Following Data Give the Dates of Successive Turning Points

question 48

Multiple Choice

The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time.  
$$\begin{array} { | c | c | c | } \hline \text { Turning Paint } & \text { Date } & \text { Real GDP (1996 \$ billims) } \\\hline \text { (A) } & \text { July } 1953 & 1992.2 \\\hline \text { (B) } & \text { May } 1954 & 1941.0 \\\hline \text { (C) } & \text { Apr. } 1957 & 2182.7 \\\hline \text { (D) } & \text { Apr. } 1958 & 2117.4 \\\hline \text { (E) } & \text { Apr. } 1960 & 2391.0 \\\hline\end{array}$$  
Which of the turning points are troughs?

• A)(A), (B), and (C)
• B)(C), (D), and (E)
• C)(A), (C), and (E)
• D)(B)and (D)

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Definitions:

Market Value

The ongoing price for buying or selling an asset or service in the market.

Stock Split

The division of a company's existing stock into multiple shares to boost market liquidity without affecting shareholders' equity.

Book Value

The net value of a company's assets minus its liabilities, as recorded on the balance sheet.

Market Value

The price at this moment for buying or selling an asset or service in the market.