Question Details

Real GDP fluctuates from year to year but is always below potential GDP.



True or false:
1) To calculate GDP when using the income approach, you must add indirect business taxes and
depreciation.
2) The largest component of income is proprietorsʹ income.

3) A productivity growth slowdown can be shown as year-to-year fluctuations of real GDP
around potential GDP.
4) Real GDP fluctuates from year to year but is always below potential GDP.

5) A business cycle is the pattern of short-run upward and downward movements in production
and jobs.




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