Quiz 2 - . he phase of the business 4. The phase of the...

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rom 1929 to 1933 U S 1. From 1929 to 1933, U.S. output dropped by about a. 10 percent b. 20 percent c. 25 percent d. 50 percent 5 percent e. 75 percent Answer : C
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2. Rapid economic growth has increased the economic well- being of U.S. citizens because a. people are now earning higher incomes while goods d services are cheaper and services are cheaper b. the dollar is worth now more than in the past c. the output of goods and services has risen faster than the population d. the population is now living and working longer e. the population has increased while production has decreased Answer : C
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. conomists monitor 3. Economists monitor economic growth by studying a. the unemployment rate b. population growth t t l tit f d d i c. the total quantity of goods and services produced each year d. the inflation rate e distribution of income among U S states Answer : C e. the distribution of income among U.S. states
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Unformatted text preview: . he phase of the business 4. The phase of the business cycle characterized by rising output is called a(n) a. peak cession b. recession c. depression d. trough pansion e. expansion Answer : E depression can be 5. A depression can be defined as a. a mild reduction in total production coupled with a rising nemployment rate that lasts for several years unemployment rate that lasts for several years b. a decline in total production that lasts less than six months severe fall in stock prices that causes financial panic and c. a severe fall in stock prices that causes financial panic and lasts several years d. a severe reduction in total production coupled with high unemployment that lasts several years e. a decline in government spending and taxes that lasts for veral months several months Answer : D...
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This note was uploaded on 08/30/2011 for the course ART 3514 taught by Professor Dhbannan during the Summer '03 term at Virginia Tech.

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Quiz 2 - . he phase of the business 4. The phase of the...

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