Macroeconomic Indicators- Part 2

Front

A general increase in prices is known as

Back

Inflation

Front

In a typical business cycle model, which stage immediately follows a trough? Options: Contraction, Peak, Recession, Expansion

Back

Expansion

Front

What is happening to the economy in a period of economic contraction?

Back

Real GDP is falling and unemployment is rising.

Front

A contraction of the business cycle that lasts for 6 or more months (2 quarters) is called a

Back

recession

Front

What type of unemployment is Corah experiencing after being laid off from her car sales job due to a slowing economy and poor car sales? Options: Cyclical, Structural, Frictional, Seasonal

Back

Cyclical

Front

Who would benefit from unexpected inflation? Options: Jayda, a businesswoman whose costs are rising., Emily, who took out a loan at a low fixed-interest rate., Trenton, who has a fixed, contracted salary with no Cost of Living Adjustment., Michael, a banker who has extended many fixed rate loans.

Back

Emily, who took out a loan at a low fixed-interest rate.

Front

Amount of goods purchased at all possible price levels

Back

Aggregate demand

Front

To determine whether a country is meeting the goal of economic growth, economists use: Consumer Price Index, Producer Price Index, Real GDP, Unemployment Rate

Back

Real GDP

Front

In which phase of the business cycle does unemployment start to increase? Options: Expansion, Contraction

Back

Contraction