Unemployment/Business Cycle

The Business Cycle measures ___ over time.

• wealth

• inflation

• economic growth

The business cycle is made up of how many phases?

• 5

• 4

• 3

• 2

The business cycle rises above the trendline during-

• rescessions

• expansions

• troughs

GDP declines during a(an)

• peak

• contraction

• expansion

Economic recovery begins-

• above the trend line

• at the end of a recession (trough)

• at the "boom" period

What follows the "peak" of a business cycle?

• recession

• a "bust"

• the trough

GDP will begin to decline at-

• the peak.

• the trough.

• the contractionary phase.

Which of the following is a peak?

• A

• B

• C

• D

Which of the following is a recession, or contraction?

• A

• B

• C

• D

Which of the following is a trough?

• A

• B

• C

• D