Historical Evidence Shows That for Determining a Country's Living Standards

question 94

Multiple Choice

Historical evidence shows that for determining a country's living standards, over:

• A) an extended period, long-run growth is just as important as the business cycle.
• B) short periods, long-run growth is less important than the business cycle.
• C) an extended period, long-run growth is much more important than the business cycle.
• D) long periods, it is difficult to determine whether the business cycle or long-run growth is more important.