Economics

Match the following phases of the trade cycle with their definitions

• by rising levels of business activity, income, output and employment

• Recovery (upswing)

• characterised by declining levels of business activity, income, output and employment

• Peak (Boom)

• characterised by income and output at the lowest level with high unemployment

• Contraction (downsizing)

• characterised by income and output at their highest levels with all resources fully employed

• Trough (recession)

Select all that are part of a 4D's analysis

• Date

• Dimension

• Data

• Due to

Increase government spending and decrease tax are example of _______ _______ policy

• Expansionary fiscal policy

• Contractionary fiscal policy

• Expansionary monetary policy

• Contractionary monetary policy

Unemployment and ________ have an inverse relationship

• GDP

• inflation

• economics

• government

A measure of the total product of goods and services in the economy is known as?

• Economics

• Unemployement

• Inflation

• GDP

Increasing the cash rate is an example of?

• Expansionary fiscal policy

• Contractionary fiscal policy

• Expansionary monetary policy

• Contractionary monetary policy

__________ policy involves the Reserve Bank of Australia (RBA) influencing interest rates and the volume of money in the economy by setting of the official cash rate

• Monetary

• Fiscal

What is the desired zone of economic activity?

• phase of the trade cycle characterised by income and output at the lowest level with high unemployment

• an amount of wealth, comfort, material goods and necessities that a particular individual, society or country has

• phase of the trade cycle where an economy is operating between the extremes of peaks and troughs. 

• rise in prices over time, measured as a percentage

rise in prices over time, measured as a percentage is known as?

• inflation

• unemployment

• GDP

• economic growth rate

TRUE of FALSE

Sustainable growth rates are between 3.5-4.5%

• TRUE

• FALSE