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The following graph approximates business cycles in the United States from the first quarter of 1953 to the third quarter of 1957. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 2700 A 2600 E E T: \"U \"'6 In E g 2500 -- e n. D (D S o: 2400 2300 | l l 1953 1954 1955 1956 1957 YEAR Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, such as the blue-shaded period in 1953, is known as v . True or False: Short-term fluctuations in real GDP are irregular and unpredictable. \"\" True 5\" False Which of the following probably occurred as the U.5. economy experienced declining real GDP in 1953? Check all that apply. f] Industrial production increased. 0 The unemployment rate increased. l] Home sales increased. 0 Consumer spending declined. F] Retail sales declined