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Business Cycles Quiz 3 (30 MCQs)

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1. 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
2. My father was a fisherman, I am a fisherman and my son will be a fisherman.
3. "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?
4. If an economy is at full employment, it has an unemployment rate that is called the
5. In which part of the GDP calculation does this fit? You spend $ 15 at AMC to see the latest Avengers movie.
6. This is unemployment because people are between jobs or who are looking for their first job:
7. GDP is the process of declining during a(an)
8. GDP is the value of
9. The lowest point of output in a recession, before a recovery begins
10. In the real business cycle model, business cycles are
11. Which phase would firms be rehiring workers they laid off
12. During the economic recession of 2008, what happened to the unemployment rate?
13. Dean graduated from college in May, but in July had still not found employment. Dean is experiencing .....
14. By looking at past GDP numbers, we can identify a
15. Which of the following does NOT contribute to the standard of living?
16. Business cycles are more stable if
17. The US economy adds a net 100, 000 jobs in October and the unemployment rate increases. How is this possible?
18. GDP per capita is found by dividing a country's GDP by it's
19. Where would you most likely have the most use of government welfare
20. The aggregate production function for real business cycle models is shown as
21. Many older Americans have trouble finding jobs because of their poor computer skills. What type of unemployment would this be considered?
22. Suppose all financial intermediaries in the financial sector have a liquidity ratio of 25%. If a new deposit of $ 10 000 is made, total deposits can increase by a maximum of:D.$ 50 000
23. Inflation works to the advantage of .....
24. What is the definition for unemployment?
25. Expectant parents buy supplies for the nursery. Would this be included in GDP?
26. At the peak phase, businesses will:
27. Nominal GDP is not a good measure of economic output. Why?
28. Farm helpers are unemployed when the cropping season is over.
29. What follows the "peak" of a business cycle?
30. Taxing & spending to help the economy grow is referred to as
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