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which of the following probably occurred as the u.s. economy experienced increasing real gdp in 1954? check all that apply. total real income increased. the unemployment rate declined. car sales declined. consumer spending declined.

Respuesta :

The following likely happened in 1954 as the US economy had an increase in real GDP.

1. Consumer spending went up.

Briefing:-

“Retail” is a relative term

3-The rate of unemployment fell.

Quiz about potential real GDP.

possible GDP. the real GDP value at full employment of all the economy's production factors—labor, capital, land, and entrepreneurial skill.

What are short-term changes in real GDP known as?

Although real GDP suffers ups and downs in the short term, it generally tends upward over time. Recessions are frequently used to describe these short-term variations in real GDP.

Are real GDP short-term variations predictable?

These variations are unpredictable and erratic. When recessions do happen, unemployment increases, while real GDP and other metrics of income, consumption, and production decline. Using the paradigm of aggregate demand and supply, economists examine short-term economic variations.

To Know more about Consumer spending

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