Notice that real gdp trends upward over time but experiences ups and downs in the short run. these short-run fluctuations in real gdp are often referred to as the business cycle. true or false: the short-term fluctuations in real gdp appear to be irregular and unpredictable during this period. which of the following probably occurred as the canadian economy experienced declining real gdp in early 2009? check all that apply industrial production declined. consumer spending declined home sales increased. investment spending declined. in which of the following years is it likely that the unemployment rate rose? cheek all that apply.