10/4 WNBF meeting

What type of economic activity is linked to infrastructure repairs, schools, and other government expenses?

• Government Spending

• Consumption

• Production

• Investments

When government spending increases, what happens to the interest rates?

• Stays the same

• Decreases

• Increases

What is the definition of economics?

• term for matters regarding the management, creation, and study of money and investment through credit, debt, securities, etc.

• social science that focuses on the production, distribution, and consumption of goods and services

• a complex system of interrelated production, consumption and exchange activities that ultimately determines how resources are allocated among all the participants

• None of the above

Which of the following marks the beginning of a contraction in the business cycle?

• Peak

• Expansion

• Recession

• Trough

During contraction, unemployment rate........ and the rate of inflation.........?

• Increase, Increase

• Increase, Decrease

• Decrease, Increase

• Decrease, Decrease

During an expansionary phase, businesses may hire more employees.

• True

• False

What does GDP stand for?

• Gross Domestic Product

• General Domestic Product

Inflation has a direct relationship to unemployment

• True

• False

Recently the fed increased interest rates by a lot. This was done to combat what?

• Inflation

• Interest rates

• Recession