POB Chapter 2.2 Review

_____ is the movement of the economy from one condition to another and then back again.

• Recession

• Gross Domestic Product

• Price Index

• Business Cycle

Which of the following are phases of the business cycle? (select all that apply)

• Prosperity

• Recession

• Depression

• Recovery

• Procession

_____ is the phase of the business cycle where most people who want to work are working.

• Recession

• Depression

• Prosperity

• Recovery

_____ is the phase of the business cycle where the economy is starting to slow down.

• Recession

• Depression

• Prosperity

• Recovery

_____ is the phase of the business cycle where businesses produce goods and services in record high numbers.

• Recession

• Depression

• Prosperity

• Recovery

_____ is the phase of the business cycle where there is a long period of high unemployment.

• Recession

• Depression

• Prosperity

• Recovery

_____ is the high point, or peak, of the business cycle.

• Recession

• Depression

• Prosperity

• Recovery

_____ is the phase of the business cycle where businesses begin to lower production.

• Recession

• Depression

• Prosperity

• Recovery

_____ is the phase of the business cycle where many businesses fail.

• Recession

• Depression

• Prosperity

• Recovery

_____ is the phase of the business cycle where unemployment begins to decrease.

• Recession

• Depression

• Prosperity

• Recovery