GDP and Economic Indicators Review

What does Per Capita Mean?

• Per Household

• Per Object

• Per Worker

• Per Person

During recessions all of the following usually happen EXCEPT

• inflation decreases

• unemployment increases

• GDP decreases

• GDP increases

If GDP falls for at least 2 Quarters, it is considered what stage of the business cycle?

• Expansion

• Recession

• Prosperity

• Recovery

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

• workforce

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

• Deflation

• Monetary policy

• Stagnation

• Inflation

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

• Recessions

• Prosperity

• Total product oscillations

• Business cycles

Which of the following connects with letter A

• Peak

• Trough

• Recession

• Expansion

Which of the following connects with letter B

• Peak

• Trough

• Recession

• Expansion

Which of the following connects with letter C

• Peak

• Trough

• Recession

• Expansion

Which of the following connects with letter D

• Peak

• Trough

• Recession

• Expansion