11. Describe the key business cycle regularities in consumption and investment expenditures. a. Both consumption and investment expenditures are procyclical. In contrast to consumption, investment is much more volatile than is GDP. b. Both consumption and investment expenditures are countercyclical. In contrast to investment, consumption is much more volatile than is GDP. c. Both consumption and investment expenditures are countercyclical. In contrast to consumption, investment is much more volatile than is GDP. d. Both consumption and investment expenditures are procyclical. In contrast to investment, consumption is much more volatile than is GDP. e. Both consumption and investment expenditures are procyclical. Both consumption and investment are as much volatile as is GDP