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Business Cycles Quiz 1 (25 MCQs)

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1. Which of the following is a coincident indicator, that helps economists get a better idea of where we are right at this moment in the business cycle?
2. On a business cycle graph, what is the lowest point of the curve where there is the lowest level of GDP?
3. If GDP decreases and is negative, the would mean that
4. On a business cycle graph, what is the phase called when there is an upward slope and GDP is increasing?
5. Read the following headline and choose the condition that correspond with the business cycle.Interest rates at a low of 2% cause consumers to take out loans and buy homes.
6. Which phase of the business cycle is missing:Recovery, Boom, Recession
7. What is the difference between real GDP per capita and real GDP?
8. Which is a shortcoming of using GDP as a measure of the economy?
9. A literary editor leaves her job in New York to look for a new job in San Francisco.
10. If GDP falls for at least 2 Quarters, it is considered what stage of the business cycle?
11. A deposit made into a bank is considered _____ of that bank.
12. Which of the following would count towards GDP?
13. When is the highest point of real GDP happen?
14. What phase of the business cycle are we in today?
15. A worker who was laid off due to a downturn in the business cycle would be considered
16. Use the following data to determine the unemployment rate:Total population 1000Full time workers 500Part time workers 200Discouraged workers 10Unemployed 70What is the unemployment rate?
17. Read the following headline and choose the condition that correspond with the business cycle.Due to factory closures unemployment has risen to a five year high of 10%
18. Which of the following is not a phase in the business cycle?
19. An investor with holdings primarily in _____ sectors will perform best in the recession stage of the business cycle.
20. If GDP of the economy grows, what is MOST LIKELY to happen to investment by a business in the economy?
21. The Gross Domestic Product measured in current prices describes what?
22. This stage of the business life cycle is generally the longest that a business will experience, and reflects dominating presence.
23. If you graph Real GDP, then you have created _____
24. In January of 2017 when President Obama left office and began looking for another job. he was considered
25. The real business cycle theory is most closely related to
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