Econ Unit #2: Business Cycle

At which stage of the business cycle do wages increase?

• Expansion

• Peak

• Contraction

• Trough

At which stage of the business cycle do wages reach their lowest point?

• Expansion

• Peak

• Contraction

• Trough

At which stage of the business cycle do wages decrease?

• Expansion

• Peak

• Contraction

• Trough

At which stage of the business cycle do reach their highest point?

• Expansion

• Peak

• Contraction

• Trough

At which stage of the business cycle do businesses lay off more and more workers?

• Expansion

• Peak

• Contraction

• Trough

At which stage of the business cycle are new businesses likely to start?

• Expansion

• Peak

• Contraction

• Trough

At which stage of the business cycle should you look for a new job?

• Expansion

• Peak

• Contraction

• Trough

At which stage of the business cycle are consumers less likely to spend money?

• Expansion

• Peak

• Contraction

• Trough

A contraction has lasted over six months, but less than a year. This is a:

• Trough

• Peak

• Recession

• Depression

A contraction has lasted over a year and is very severe. This is a:

• Trough

• Peak

• Recession

• Depression