In reference to short term economic fluctuations the trough refers to A a

# In reference to short term economic fluctuations the

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7.In reference to short-term economic fluctuations, the "trough" refers to: A. a period in which the economy is growing at a rate significantly below normal.B. the high point of economic activity prior to a downturn.C.the low point of economic activity prior to a recovery.D. a particularly strong and protracted expansion. AACSB: Analytical Skills Blooms: Knowledge Frank - Chapter 20 #7 Learning Objective: 20-01 Identify the four phases of the business cycle. Section: Recessions and Expansions

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8.The end of a recession is called the: AACSB: Analytical Skills Blooms: Knowledge Frank - Chapter 20 #8 Learning Objective: 20-01 Identify the four phases of the business cycle. Section: Recessions and Expansions
9.The beginning of a recession is called the: AACSB: Analytical Skills Blooms: Knowledge Frank - Chapter 20 #9 Learning Objective: 20-01 Identify the four phases of the business cycle. Section: Recessions and Expansions

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The following data give the dates of successive turning points in economic activity and the corresponding levels of real GDP at the time. Frank - Chapter 20
10.Which of the turning points are peaks? (A), (C), and (E) D. (B) and (D) AACSB: Analytical Skills Blooms: Application Frank - Chapter 20 #10 Learning Objective: 20-01 Identify the four phases of the business cycle. Section: Recessions and Expansions

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11.Which of the turning points are troughs? A. (A), (B), and (C)B. (C), (D), and (E)C. (A), (C), and (E) D. (B) and (D) AACSB: Analytical Skills Blooms: Application Frank - Chapter 20 #11 Learning Objective: 20-01 Identify the four phases of the business cycle. Section: Recessions and Expansions
12.Which of the following periods is a recession? AACSB: Analytical Skills Blooms: Application Frank - Chapter 20 #12 Learning Objective: 20-01 Identify the four phases of the business cycle. Section: Recessions and Expansions

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The following data give the dates of successive turning points in economic activity and the corresponding levels of real GDP at the time. Frank - Chapter 20
13.Which of the turning points are peaks? (A), (C), and (E) D. (B) and (D) AACSB: Analytical Skills Blooms: Application Frank - Chapter 20 #13 Learning Objective: 20-01 Identify the four phases of the business cycle. Section: Recessions and Expansions

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