Fluctuations Around the Long-Run Aggregate Supply Curve Are

question 23

Multiple Choice

Fluctuations around the long-run aggregate supply curve are:

• A) called the business cycle.
• B) experienced as expansions, recessions, and recoveries.
• C) normal for an economy.
• D) All of these are true.

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Definitions:

Data

Collected information or facts, typically numerical, that are used as a basis for reasoning, discussion, or calculation.

Categorical Variable

A type of variable that can take on one of a limited, and usually fixed, number of possible values, assigning each individual or other unit of observation to a particular group or nominal category.

Social Security Number

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Age

The length of time that a person or entity has been alive or existed.