Business Cycles Are Fluctuations of Real GDP Around Potential GDP

question 11

True/False

Business cycles are fluctuations of real GDP around potential GDP.

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Definitions:

Proposed Rule

An official suggestion for a new regulation or amendment to existing regulations, usually published for public comment before adoption.

Comments

Observations or remarks expressed to convey feedback or information.

Informal Rule Making

The process whereby regulatory agencies create and issue rules and regulations through methods that are less formal than traditional rulemaking processes, often involving public notice and comment.

Efficiency

The economic principle of getting the most output from the least input.