Q9

Question 9 4 pts Imagine a country whose population. in year 1, is 100 people and the real value of output is $5,000. The per-capita level of output is A) S (enter dollar value, no decimals or dollar signs). Assume that between year 1 and year 5. its population has grown to 130 and the real value of its output has risen to 86.000. Over this period. this country's per-ca pita (i'e., per person) output has gone B) (up/down enter number from sheet, not the word). Over time, even though the economy goes through expansions and contractions. the long run trend line of the business cycle in the United States is going C) (up/down enter number from sheet, not the word). This phenomenon is known as economic D) Use the numbers below to fill in the blanks that require words or phrases. Some of these numbers you may use more than once. Some you wont use at all 1) Benefit(s) 17) Hurts 2) Businesss cycle 18) Inflation 3) Contraction 19) Inflationary gap 4) Cost(s) 20) Natural 5) Cyclical 21) Price 6) Deflation 22)\\ Recession 7) Demand 23) Recessionary gap 8) Down 24) Shortage 9) Expansion 25) Spending 10) Flexible 26) Sticky 11) Frictional 27) Structural 12) Great Contraction 28) Supply 13) Great Depression 29) Surplus 14) Great Expansion 30) Unemployment 15) Great Recession 31) Up 16) Growth 32) Wage