Quiz8 chapter8

Macroeconomics plus MyEconLab plus eBook 1-semester Student Access Kit (6th Edition)

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Quiz This activity contains 15 questions.  Listed in order, the phases of a complete business cycle are contraction, recession, depression, expansion. contraction, trough, expansion, peak. trough, expansion, boom, bust. expansion, contraction, trough, peak. The low point in the business cycle is referred to as the depression. recession. trough.
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contraction. The tendency for many economic variables to move together in a predictable way over the  business cycle is called persistence. comovement. countercyclical variation. procyclical movement. The NBER's business cycle chronology for the United States shows that
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there were no business cycles prior to 1929. compared to the 1854–1929 period, the post-1945 period  was characterized by fewer months in contraction and  more months in expansion. there was no business cycle expansion in the 1930s.
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