(Solved): 2. Key facts about ecenomic fluctuations The following graph approximates business cycles in the Un ...

2. Key facts about ecenomic fluctuations The following graph approximates business cycles in the United states from the firnt quarter of 1953 to the third auartor of 1957 , The vertical blue har coincides with periods of ti on mere menth of ieckniag real gross domentic product (rnal Gop). Notice that real GDP trends upward over time but experiences ups and dowins in the short run. A period of dectining real GDP, such as the blue-shaded period in 1953, is known as. True or False: Short-term fluctuations in real GDP are irregular and unpredictable. True False Which of the following probably occurred as the U.S. economy experienced increasing real GOP in 1954? Check all that apply. Home sales declined. Retail sales increased. Consumer spending increased. Industrial production declined.