Question: 1. Explain why forecasting GDP over the long term is difficult. 2. Why are the comovements in aggregate economic variables important? 3. Describe the key

1. Explain why forecasting GDP over the long term is difficult. 2. Why are the comovements in aggregate economic variables important? 3. Describe the key business cycle regularities in consumption and investment expenditures. 4. What are the key business cycle regularities with respect to the price level and inflation? 5. What are the key business cycle regularities in the labor market

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