TRUE OR FALSE

a."Nominal GDP in the US is expressed in chained dollars."

b."The current US recession began in May 2020."

c."The core CPI is calculated by subtracting energy and housing prices from the all-items CPI."

d."When exports are greater than imports, the US runs a trade deficit, which is a negative entry in the GDP calculation."

e."GDP in last year's third quarter increased because transfer payments rose."

f."Economic expansions in the US tend to be shorter than recessions."

g."The largest component of consumption expenditures is durable goods."