Business Cycle

Please select all of the economic indicators that economists studied in the Business Cycle

• Unemployment Rate

• Inflation

• GDP

• Value of the US Dollar

When the economy has reached maximum growth, economists call this the...

• Trough

• Expansion

• Contraction

• Peak

When the economy reaches the lowest point of an economic downturn, economists call this the...

• Trough

• Expansion

• Contraction

• Peak

Please select all characteristics that occur at a peak:

• High unemployment

• Low unemployment

• High GDP

• Low GDP

Please select all characteristics that occur at a trough:

• High unemployment

• Low unemployment

• High GDP

• Low GDP

Economists label a recovering economy as being in what phase of the Business Cycle:

• Peak

• Expansion

• Contraction

• Trough

Economists label a recessing economy as being in what phase of the Business Cycle:

• Peak

• Expansion

• Contraction

• Trough

The Great Depression was an example of this phase of the Business Cycle:

• Peak

• Expansion

• Contraction

• Trough

The Roaring 20's and Post War Boom were examples of this phase of the Business Cycle:

• Peak

• Expansion

• Contraction

• Trough

The Global Pandemic of COVID 19 has put our economy into the phase of the Business Cycle?

• Peak

• Contraction

• Expansion

• Trough