Which of the following statements about contractions is true? Significant or pro

Question

Which of the following statements about contractions is true? Significant or prolonged contractions are called booms. A contraction usually follows a trough in the business cycle. Contractions are periods when the real GDP grows slower than the trend. The government usually does not have a part in moderating the business cycle when a contraction is occurring. Which of the following statements about contractions is true? Significant or prolonged contractions are called booms. A contraction usually follows a trough in the business cycle. Contractions are periods when the real GDP grows slower than the trend. The government usually does not have a part in moderating the business cycle when a contraction is occurring.

Explanation / Answer

Contractions are periods when the real GDP grows slower than the trend

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