Unit:4-Form.#2-Economic Indicators

A Business Cycle is...

• A very deep and prolonged economic downturn.

• A period in which output and employment are rising.

• A period in which output and employment are falling.

• A period in which output is rising and unemployment is falling.

• A short-run alternation between economic upturns and downturns.

In a typical business cycle, the trough is immediately followed by the .....

• business cycle peak

• recession

• depression

• expansion

• downturn

The point on the business cycle when real gross domestic product stops rising and begins falling is a........

• peak

• trough

• expansion

• contraction

• recovery

Use the attached image to answer the following:

Movement from point B to C is called...

• trough

• expansion

• depression

• peak

• contraction

Use the attached image to answer the following:

Movement from point A to B is called...

• a trough

• an expansion

• a peak

• a contraction

Use the attached image to answer the following:

What is point A or C called?

• a trough

• an expansion

• a depression

• a peak

• a contraction

Use the attached image to answer the following:

What is point B called?

• a trough

• an expansion

• a peak

• a contraction

Inflation is a situation where.....

• The average price level falls.

• The national debt rises.

• The average price level becomes negative.

• The real price level falls.

• The average price level increases.

The total market value of all final goods and services produced annually in an economy inside the borders of the country.

• unemployment rate

• GDP

• full employment

• Real GDP

The portion of people in the labor force who are not working, but are seeking employment divided by the people actually working.

• unemployment rate

• speculation

• seasonal unemployment

• full employment