business cycle

The Lowest point in the business cycle

• Peak
• Trough
• Expansion
• Contraction

The HIGHEST Point in business cycle

• Peak
• Trough
• Contraction
• Recession

What term is used to describe an increase in the general price level?

• Deflation
• Monetary policy
• Stagnation
• Inflation

What is the formula for GDP?

• C + I + G + (X-M)
• C + I + G / (X-M)
• C + I + G + (population)
• C + I + G + (M-X)

Which phase of the Business Cycle includes the economy slowing down?

• Prosperity
• Recession
• Depression
• Recovery

Which type of unemployment do lifeguards experience? 

• Seasonal
• Structural/Technological
• Cyclical
• Frictional

When a company buys new computers for their business, what part of the GDP equation does this count as? 

• Consumption
• Investments
• Imports
• Exports

What type of unemployment do recent college graduates experience while looking for a job?

• Seasonal
• Structural/Technological
• Cyclical
• Frictional

What type of unemployment did people experience during the Great Depression?

• Seasonal
• Structural/Technological
• Cyclical
• Frictional

What is demand pull inflation?

• rise in price due to a decrease in supply
• a rise in price level due to an increase in demand
• a decrease in price due to an increase in supply
• a decrease in price due to a decrease in supply