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Business Cycles Quiz 5 (25 MCQs)

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1. In real business cycle models and new classical models
2. Nick quits his job at Topps in order to find a better job. What type of unemployment is this?
3. Caused by the increases in the expenses of production without the corresponding increase in output.
4. Which of the following is NOT a challenge of the growth stage?
5. When the unemployment rate is relatively high,
6. Logan loses his job cooking pizza when a robot can do it faster and at a lower expense. Which type of unemployment is he experiencing?
7. If GDP of the economy falls and decreases, what is MOST LIKELY to happen to production and recruitment at a business in the economy?
8. In which stage of the business life cycle could it be necessary to bring in external professions to help analyse, evaluate or review the business?
9. One of the most effective ways for a business to stay competitive in the maturity stage is to?
10. Economists try to predict changes in the business cycle using economic indicators. Which of the following is a leading indicator that shows where we're heading in the near future?
11. Michael Kors hires designers to come up with new product lines. Is this included in GDP?
12. The BEST example of structural unemployment in an economy is someone
13. Which of the following do households provide businesses?
14. A man with a PhD working as a waiter at Olive Garden about 20-25 hours a week.
15. At what point on the business cycle would you have the lowest unemployment rate
16. To be considered a recession, a contraction must last for a period of
17. An economic contraction is synonymous with
18. Which of the following expenditures would not be included in GDP?
19. In the contraction phase, workers will notice that
20. The lowest point of output in a recession, before a recovery begins is called
21. What is the study of the economy as a whole?
22. What is the study of the behaviour of individuals, households, and companies and is the study of how markets between buyers and sellers work?
23. What type of Unemployment is represented here?Scenario:Businesses purchase more technology for the sole purpose of laying off employees
24. When calculating GDP, which of the following is subtracted from the total?
25. Innovations in technology (like the rise of computers in the 1980s and 1990) can help shift us to which segment of the business cycle?
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