Economics Chapter 11

Which are part of the business cycle?

• expansion

• inflation and debasement of money

• peak

• socialism

Which are part of the business cycle?

• perfect competition

• microeconomics

• recession

• trough

What is the value of all finished goods and services produced within a country during a year's time?

• base period

• cost-push inflation

• CPI

• GDP

What is arbitrarily given the value of 100 percent?

• base period

• cost-push inflation

• CPI

• demand-pull inflation

What is it when demand becomes greater than the supply?

• base period

• stagflation

• demand-pull inflation

• cost-push inflation

What is it when high inflation is combined with high unemployment?

• stagflation

• GDP

• Base period

• CPI

What measures the growth of inflation?

• GDP

• CPI

• NRA

• FDIC

What is a component of the economy that tends to change prior to the rest of the economy?

• boom

• supply-side economics

• excessive regulation

• leading indicator