(Solved): 1. Key facts about economic fluctuations The graph included below approximates United States busine ...

1. Key facts about economic fluctuations The graph included below approximates United States business cycles between quarter one of 1953 and quarter three of 1957 . The shaded region denotes periods of six or more consecutive months of declining real gross domestic product (real GDP). Notice that real GDp trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, sueh as the blue-shaded period in 1953, is known as True or False: Short-term fluctuations in real GDp are irregular and unpredictable. True Palse Which of the following probabty occurred as the U.S. economy experienced increasing real GDe in 1954? Check all that apply. The unempityment rate declined. Home sales declined. Hetel sales increased. Industrial production declined.