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WorksheetsBusiness Cycles
Total questions: 12
Worksheet time: 10mins
Name
Class
Date
1.
The Lowest point in the business cycle
a)
Peak
b)
Trough
c)
Expansion
d)
Contraction
2.
The HIGHEST Point in business cycle
a)
Peak
b)
Trough
c)
Contraction
d)
Recession
3.
Which phase of the Business Cycle includes the economy slowing down?
a)
Prosperity
b)
Recession
c)
Depression
d)
Recovery
4.
The lowest point of output in a recession, before a recovery begins is called
a)
trade deficit
b)
depression
c)
trough
d)
recovery
5.
When a recession is predicted in an economy which of the following occurs?
a)
businesses decrease investment
b)
consumers increase spending
c)
businesses increasing hiring
d)
businesses increase investment
6.
Which letter represents the Contractionary (Recession) Phase?
a)
A
b)
B
c)
C
d)
D
7.
Where on the business cycle would you find the highest unemployment?
a)
A
b)
B
c)
C
d)
D
8.
Which phase of the Business Cycle includes the economy slowing down?
a)
Expansion
b)
Recession
c)
Depression
d)
Recovery
9.
This economic model is called:
a)
The business cycle
b)
Supply & demand
c)
Production Possibilities Curve
d)
Circular Flow Model
10.
Point 3 represents
a)
Trough
b)
Expansion
c)
Peak
d)
Depression
11.
Which recent historical event most represents Point 2 and 3 on the chart?
a)
Great Recession
b)
Current Economy
c)
Great Depression
d)
"Dot Com" Boom of the early 2000s
12.
What is the biggest difference between a "recession" and a "depression"?
a)
Length and severity of economic contraction
b)
Depressions are more frequent than recessions
c)
Depressions only happen when banks fail
d)
Recessions are more severe than depressions
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