logo image

Ch. 16, Quiz Review

A business cycle is the

a. period of time in which expansion and contraction of economic activity are equal.
b. period of time in which there are three phases which are peak, depression, and expansion.
c. recurring growth and decline in real GDP.
d. period of time in which a business is established and ceases operations.

Recurring growth and decline in real GDP.
A business cycle is the period of time in which

a. a business is established and ceases operations.
b. there are four phases which are peak, recession, trough and expansion.
c. the price level changes.
d. expansion and contraction of economic activity are equal.

There are four phases which are peak, recession, trough and expansion.
The _________ phase of the business cycle follows a recession.
a. expansion
b. recession
c. peak
d. trough
Trough
In Exhibit 11, the expansion phase of the business cycle is represented by points

a. A and C.
b. B and F.
c. B and D.
d. C and G.

B and F
A general rule is that economy is experiencing a recession when

a. real GDP declines for at least three months.
b. real GDP declines for at least nine months.
c. nominal GDP declines for at least nine months.
d. real GDP declines for at least six months.

Real GDP declines for at least six months.
The increase in unemployment associated with a recession is called

a. structural unemployment.
b. frictional unemployment.
c. discouraged unemployment.
d. cyclical unemployment.

Cyclical Unemployment
What stage of the business cycle immediately follows the trough?

a.peak
b. recovery
c. recession
d. depression

Recovery
The government’s chief forecasting gauge for business cycles is the

a. unemployment rate.
b. real GDP.
c. personal income index.
d. index of leading indicators.

Index of Leading Indicators
Which of the following is not
a lagging indicator?

a. duration of unemployment
b. stock prices
c. commercial and industrial loans
d. prime rate

Stock Prices
Suppose the official unemployment rate is 10 percent. We can conclude without question that

a. the same 10 percent of the people in the economy were out of work for the entire year.
b. 1 out of every 10 people in the civilian labor force is currently unemployed.
c. the same 10 percent of the people in the civilian labor force was out of work for the entire year.
d. each person in the civilian labor force was out of work for 10 percent of the year.

1 out of every 10 people in the civilian labor force is currently unemployed.

Need essay sample on "Ch. 16, Quiz Review"? We will write a custom essay sample specifically for you for only .90/page

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
×
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register
Signup & Access Essays

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
|
Complete Buyer Protection
|
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy