Chapter 20 test

What was the worst point in the business cycle in the United states?

• The Great Depression

• Recession of 1981
• Dot-com Bubble Burst
• Financial Crisis of 2008

What are the seven different parts of the business cycle?

• growth, climax, decline, bottom, upturn, downturn, and slump
• rise, summit, fall, low, upswing, downturn, and crash
• expansion, peak, contraction, trough, Inflation, recession, and depression

• expansion, climax, contraction, bottom, upturn, downturn, and slump

What type of jobs did the government create during the great depression?

• Government-funded programs such as the NASA, FBI, and CIA.
• Government-funded programs such as the paper mill

• Government-funded programs such as bank tellers

• Government-funded programs such as civic construction projects

Unemployment grows during periods of

• economic downturns or recessions
• stable job market
• inflation peaks
• economic growth

What are the serious challenges to the economy?

• Unemployment rates, inflation, and trade deficits
• Climate change, healthcare costs, and political instability
• unemployment, inflation, and recession

• Education funding, housing market fluctuations, and recession

What is one major cause of inflation?

• Decrease in the money supply
• Stable economic conditions
• Increase in the money supply
• Low consumer demand

The amount that a worker produces per hour is called

• productivity
• output rate
• workload
• efficiency

What happens to a business during recession or contraction?

• Increase in consumer spending, higher sales, increased profits, no layoffs, economic upturn
• Stable consumer spending, consistent sales, steady profits, no layoffs, economic growth
• No change in consumer spending, same sales, unchanged profits, no layoffs, economic stability
• Decrease in consumer spending, lower sales, reduced profits, potential layoffs, economic downturn

Who passed the huge stimulus in 2009 during the deep recession?

• Joe Biden
• Barack Obama
• Hillary Clinton
• Donald Trump

What are the four ways to help the economy?

• No Government Spending, No Saving, No buying products, No productivity

• Reduce Government Spending, Increase Saving, Buy American-Made Products, Increase Productivty

• Increase Government Spending, Decrease Saving, Buy International Products, Decrease Productivity

• Delay on Government Spending, Share Savings, Buy American-Made Products, Decrease Productivity