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Business Cycles Quiz 2 (25 MCQs)

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1. Which of the following is a lagging indicator that changes after real GDP and helps economists get a clearer sense of exactly when a recession or expansion might have ended?
2. Stimulative policy is indicative of the _____ stage in the business cycle.
3. What problem might policymakers be trying to address MOST when they increase funding for training programs covering skills such as computer repair, programming, and networking?
4. In the trough phase, businesses will
5. What do the households provide businesses?
6. Period of economic growth as measured by a rise in real GDP
7. Tom was fired for failing a drug test and has been in a rehab facility for drug addiction for 3 months
8. What occurs at a trough?
9. During which stage can a business adjust its ideas in response to feedback to ensure it is effectively meeting expectations of key stakeholders.
10. Sizzler is an example of a business in which stage of the life cycle?
11. What will people looking for work during the contraction phase of the business cycle find?
12. What can the government do to give a boost to a slowing economy?
13. GDP stands for which of the following?
14. Thousands of workers at a toy factory lose their jobs when the company they work for relocates their factories and operations to Taiwan. These workers are experiencing
15. My father was a fisherman, I am a fisherman and my son will be a fisherman.
16. "The DOW Jones industrial average on the stock market reaches an all-time high!" This headline corresponds to which part of the business cycle the best?
17. If an economy is at full employment, it has an unemployment rate that is called the
18. This is unemployment because people are between jobs or who are looking for their first job:
19. GDP is the process of declining during a(an)
20. GDP is the value of
21. The lowest point of output in a recession, before a recovery begins
22. In the real business cycle model, business cycles are
23. Which phase would firms be rehiring workers they laid off
24. During the economic recession of 2008, what happened to the unemployment rate?
25. Dean graduated from college in May, but in July had still not found employment. Dean is experiencing _____
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