QUICK REVIEW: Business Cycle

Front

Which of the following is NOT a Phase? Expansion , Contraction, Neutral, Peak, Trough

Back

Neutral

Front

The Business Cycle measures ___ over time.

Back

economic growth

Front

The business cycle is made up of how many phases?

Back

4

Front

The business cycle rises above the trendline during-

Back

expansions

Front

GDP declines during a(an)

Back

contraction

Front

Economic recovery begins-

Back

at the end of a recession (trough)

Front

When GDP rises faster than the long-run trend the economy is experiencing-

Back

expansion

Front

GDP will begin to decline at-

Back

the peak.

Front

If a news headline says, "Finally!!! 2 straight months of increased jobs." Where on the business cycle is the current economy?

Back

Expansion/Growth/Recovery

Front

Where on the business cycle is the current economy if a news headline says, "3 months of consecutive job losses is impacting consumer confidence"?

Back

Contraction/Recession