Ma_T8e_Ch_06 - Chapter 6Business Cycles and Unemployment...

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Chapter 16 / Exercise 4
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Chapter 6—Business Cycles and UnemploymentMULTIPLE CHOICE1.Economists use the phrase "business cycle" when referring to fluctuations in:a.real GDP.c.the consumer price index.b.the chain price index.d.the general level of prices.ANS:A
PTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Business-Cycle Roller CoasterKEY:Bloom’s: Knowledge2.The period of declining growth in real GDP between the peak of the business cycle and the trough is called a(n):
PTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Business-Cycle Roller CoasterKEY:Bloom’s: Knowledge3.The period of growth in real GDP between the trough of the business cycle and the next peak is called the:
PTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Business-Cycle Roller CoasterKEY:Bloom’s: Knowledge4.Which of the following will most likely occur during the recessionary phase of a business cycle?
PTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Business-Cycle Roller CoasterKEY:Bloom’s: Comprehension5.Which of the following will most likely occur during the recovery phase of a business cycle?a.Real GDP rises, and unemployment falls.b.Real GDP declines, and inflation rises.c.Interest rates rise, and the number of business failures rise.d.Inflation rises, and employment falls.ANS:A
PTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Business-Cycle Roller CoasterKEY:Bloom’s: Comprehension6.Economists usually use the term "recession" to refer to:
PTS:1DIF:ModerateNAT:BUSPROG: AnalyticTOP:The Business-Cycle Roller CoasterKEY:Bloom’s: Comprehension
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Chapter 16 / Exercise 4
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7.Which of the following is true of the business cycle record of the United States?
PTS:1DIF:ModerateNAT:BUSPROG: AnalyticTOP:The Business-Cycle Roller CoasterKEY:Bloom’s: Comprehension

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