Question Details

A trend is a general tendency for a variable to increase or decrease over time



True or false:
1) Phases and turning points of the business cycle are expansion, peak, recession and trough.
2) The business cycle progresses from an expansion to a peak to a recession and then to a trough.
3) A recession occurs when real GDP decreases for at least 6 months.
4) An expansion ends when the economy hits a trough and then enters a recession.
5) To measure economic welfare, one needs only to measure real GDP.
6) A time series graph can show both the level of a variable and the speed with which the variable
changes over time.

7) A trend is a general tendency for a variable to increase or decrease over time.



Economics Assignment Help, Economics Homework help, Economics Study Help, Economics Course Help