14 1. The means by which the Federal Reserve influences economic conditions in the United States is called a. Deficit spending b. Fiscal policy c. Monetary policy d. Gross domestic product e. Business cycle 142.occurs when the government spends more than it collects in taxes. a. Deficit spending b. Fiscal policy c. Monetary policy d. Gross domestic product e. Business cycle 143. Industries that tend to be directly related to business cycles such that they perform best during expa during contractions are called- a. Defensive industries b. Industry life cycles c. Countercyclical industries d. Growth industries e. Cyclical industries 144. The includes all the goods and services produced in the economy during a specific time where value of the goods and services is adjusted for inflation. a. real GDIP b. nominal GDP c. real GNP d. nominal GNP is is the examination of the supply/demand relationships for securities to determine trends in movements of stocks or financial markets. a. True b.False 146. When economists meas indicating the direction of the current business cycle. ure the aggregate economy and say that it is either expanding or contracting, they are a. True b. False 147. The monctary policy of the Unied Statesis formalated and carred a. True b.False out by the Federal Reserve