business cycle quizizz

How many phases make up the business cycle?

• 2

• 4

• 6

• 8

GDP is the process of declining during a(an)

• peak

• contraction

• expansion

• trough

If a news headline says, "Finally!!! 2 straight months of increased jobs."

Where on the business cycle is the current economy?

• Peak

• Contraction

• Trough

• Expansion

If a news headline says, "3 months of consecutive job losses is impacting consumer confidence."

Where on the business cycle is the current economy?

• Peak

• Contraction

• Trough

• Expansion

Which of the following is an expansion, or recovery?

• A

• B

• C

• D

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

• Expansion

• Recession

• Prosperity

• Recovery

At what point in the business cycle is GDP the highest?

• Peak

• Expansion

• Recovery

• Trough

All final goods and services that make up GDP can be expressed in the form:

• GDP = C + I - G + (X + M).
• GDP = C + I + G + (X + M).
• GDP = C + I + G + (X - M).
• GDP = C + I + (X - M).

What is the definition for GDP?

• The market value of all final goods and services produced in a nation during a period of time, usually a year.

• The increase of general prices over time.

• When people do not have jobs and are actively looking for one.

What is the definition for inflation?

• The market value of all final goods and services produced in a nation during a period of time, usually a year.

• The increase of general prices over time.

• When people do not have jobs and are actively looking for one.