Business Cycle Persistence Refers to the Property That

question 17

Multiple Choice

Business cycle persistence refers to the property that

• A) real GDP is rarely exactly at trend.
• B) booms and recessions last a long time.
• C) when real GDP is above trend, it tends to stay above trend, and when it is below trend, it tends to stay below trend.
• D) business cycles are persistently hard to predict.
• E) real GDP tends to stay in the peaks and troughs of the business cycle.

---

Definitions:

Normlessness

A state or condition where social norms are unclear, weak, or not widely followed, often leading to social disorientation.

Social Breakdown

Refers to the deterioration of the social fabric and structures, leading to a decline in societal norms and values, often resulting in chaos or disorder.

Sociological Definition

A precise explanation of a term or concept within the field of sociology, emphasizing its significance and usage in the study of society and social behaviors.

Deviant Behavior

Actions or behaviors that violate societal norms or expectations, often resulting in disapproval or sanctions.