At the Beginning of the Recession of 2007-2009,real GDP in the United

question 77

Multiple Choice

At the beginning of the recession of 2007-2009,real GDP in the United States was ________ potential GDP,and in June 2009,real GDP was ________ potential GDP.

• A)below; above
• B)below; below
• C)above; below
• D)above; above

---

Definitions:

Standard Economic Thought

The dominant or traditional theories and principles in economics, often focusing on market efficiency, supply and demand, and rational choice.

Strikes

A form of protest where workers stop working in an attempt to force an employer to comply with their demands, such as higher pay or improved working conditions.

Defensive Lockout

A tactic used by employers to prevent workers from working during a labor dispute to protect the company's assets or interests.

Picketing

A form of protest by workers outside a place of employment or another significant location to express grievances or demand rights, often during strikes or labor disputes.