Business Cycle

Increasing unemployment and decreasing GDP is a sign of what part of the Business Cycle?

• Expansion
• Peak
• Contraction
• Hot Cheetos

If GDP falls for at least 2 Quarters, it is called.

• Expansion
• Recession
• Clumsy
• Frictional

What term is used to describe the percent of the labor force that does not have a job but is currently looking for one?

• Leading economic indicator
• Full employment
• Unemployment rate
• Structural unemployment

What term is used to describe an increase in the general price level?

• Deflation
• Monetary policy
• Stagnation
• Inflation

The phase of a business cycle in which real GDP reaches the lowest level is the.

• Recession
• Depression
• Recovery
• Trough

Which letter represents the Contractionary (Recession) Phase?

• A
• B
• C
• D

Where on the business cycle would you find the highest unemployment?

• A
• B
• C
• D

Increasing unemployment and decreasing GDP is a sign of what part of the Business Cycle?

• Expansion

• Peak

• Contraction

• Hot Cheetos

Which term describes the phases of expansion and contraction in an economy over time?

• Recessions
• Business cycles
• Output yo-yos
• Total product oscillations

What do governments provide for the market?

• private goods & services
• public goods & services