Business Cycle

Business Cycle

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Wayground Content

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22 questions

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1.

FLASHCARD QUESTION

Front

Where on the business cycle would you find the lowest level of unemployment?

Back

A

2.

FLASHCARD QUESTION

Front

What is one effect high unemployment rates have on the economy?

Back

It causes consumer & business spending to decrease

3.

FLASHCARD QUESTION

Front

Low unemployment, an increase in the output of goods and services, and increasing consumer spending best illustrates which of the following periods of the business cycle?

Back

expansion

4.

FLASHCARD QUESTION

Front

GDP is the highest in which of the following phases? Trough, Expansion, Peak, Recession

Back

Peak

5.

FLASHCARD QUESTION

Front

Inflation is the highest in which of the following phases? Peak, Expansion, Recession, Trough

Back

Peak

6.

FLASHCARD QUESTION

Front

The lowest point of output in a recession, before a recovery begins is called

Back

trough

7.

FLASHCARD QUESTION

Front

A decline in business & consumer spending results in a decline in GDP

Back

True

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