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Module 3 Exam Review

Authored by Kendall LaPoint

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Used 17+ times

Module 3 Exam Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

Which point of the business cycle represents a peak?

B
C
D
E

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

Which part of the cycle represents a period of contraction?

A
B
C
D

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

Which statement best explains the relationship between points A and B?

Production reaches its highest point, and then the economy begins to contract.
Consumption reaches its highest point, and then supply begins to fall.
Inflation reaches its highest point, and then the economy begins to expand.
Unemployment reaches its highest point, and then inflation begins to decrease.

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

Which of the following most likely occurs during C?

High inflation and high unemployment
High production and low inflation
Low inflation and low unemployment
Low production and high unemployment

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

Which of the following describes a key difference between B and D?

Employment rises in B but falls in D.
Gross domestic product rises in B but falls in D.
Inflation rises in B but falls in D.
Unemployment rises in B but falls in D.

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The inflation rate is increasing and unemployment is decreasing. The economy is likely in

contraction
expansion
a peak
a trough

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Inflation is low but the unemployment rate is the highest seen in several years. Economists report signs that show in six months the economy is likely to improve. The economy is likely in

contraction
expansion
a peak
a trough

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