Macroeconomic Indicators & The Business Cycle

Front

What is the primary measure of a country's economic output or production?

Back

Gross Domestic Product (GDP)

Front

Which of the following represents the overall price level of goods and services in an economy? GDP, Consumer Price Index (CPI), Business Cycle, Unemployment Rate

Back

Consumer Price Index (CPI)

Front

During an economic expansion phase of the business cycle, which indicator is likely to be at its highest point? Options: Unemployment Rate, Inflation Rate, GDP, Interest Rate

Back

GDP

Front

When the unemployment rate is low, it typically indicates:

Back

Strong Economic Growth

Front

Which macroeconomic indicator reflects the percentage of the labor force that is actively seeking employment but cannot find a job?

Back

Unemployment Rate

Front

During a recession, which of the following is most likely to occur? Rising GDP, Falling unemployment rate, Decreasing inflation, Decreasing consumer spending

Back

Decreasing consumer spending

Front

Which macroeconomic indicator measures the average change in prices for a basket of consumer goods and services over time?

Back

. Consumer Price Index (CPI)

Front

Inflation is characterized by: Low consumer spending, An increase in the general price level, A stagnant economy, Falling prices of goods and services

Back

An increase in the general price level

Front

During the peak phase of the business cycle, what is likely to happen to GDP?

Back

It will remain stable

Front

What macroeconomic indicator helps economists determine the overall health of an economy and its position in the business cycle?

Back

Business Cycle Index