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The industries or sectors of the economy in which business cycle fluctuations tend to affect output the most are: D. capital goods and durable consumer goods.
31) Real GDP measures: A. base year output at current prices.
32) Kara voluntarily quit her job as an insurance agent to return to school full-time to earn an MBA degree. With degree in hand she is now searching for a position in management. Kara presently is: A. frictionally unemployed.
33) Suppose the price level is fixed, the MPC is .5, and the GDP gap is a negative $100 billion. To achieve full-employment output (exactly), government should:
C. increase government expenditures by $50 billion.
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