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The graph included below approximates United States business cycles between quarter one of 1955 and quarter three of 1959. The shaded region denotes periods of

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The graph included below approximates United States business cycles between quarter one of 1955 and quarter three of 1959. The shaded region denotes periods of six or more consecutive months of declining real gross domestic product (real GDP). (?) 2800 T 2700 REAL GDP (Billions of dollars) 2600 2500 2400 1955 1956 1957 1958 1959 YEAR Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13, http://www.bea.govational/xIs/gdplev.xis. Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as True or False: Short-term fluctuations in real GDP are irregular and unpredictable. O True O False Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1957? Check all that apply. The unemployment rate increased. Consumer spending increased. Corporate profits declined. Total real income declined

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