Global MCQ Practice

🌐 Total MCQ
Home > Economics > Macroeconomics > Cycles > Business Cycles – Quiz 6
🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

Business Cycles Quiz 6 (25 MCQs)

Quiz Instructions:

Select an option to see the correct answer instantly.

1. The business life-cycle is a _____ of the series of stages that can be applied to the _____ of activity that a business conducts.
2. When contraction (recession) begins in a business cycle-th economy has been declining for
3. They spend more than they earn, reducing their accumulated savings or going deeper into debt.
4. Peggy, a recent college graduate, decides to look for a job instead of going to graduate school. If she is unable to find a job that suits her interest right away, what type of unemployment is she MOST likely experiencing?
5. As the economy nears the end of an expansion, interest rates usually _____ and wages rise more _____ than prices.
6. Which year is the base year?1997 CPI = 951998 CPI = 971999 CPI = 1002000 CPI = 104
7. To obtain an accurate picture of how the economy is doing, it is important to use
8. Which of the following is not considered a cost of inflation?
9. One of the problems with the unemployment rate is that it
10. Jim lost his job as a stock broker during the recession in 2008. He was unable to find a new position until 2010. During 2008-2010 Jim experienced what kind of unemployment?
11. What is considered "interest" in the GDP income approach?
12. What usually happens to inflation during a recession?
13. All final goods and services that make up GDP can be expressed in the form:
14. Recurring periods of expanding and contracting economic activity
15. If GDP of the economy grows, what is MOST LIKELY to happen to congestion, pollution, and transport issues in the economy?
16. What is considered "profit" in the GDP income approach?
17. Read the following headline and choose the condition that correspond with the business cycle.The unemployment rate is at 3.4%, a new 15 year low.
18. If the unemployment rate goes down, what will most likely happen to real GDP?
19. In 2018, how much did the U.S. produce in final goods and services (GDP)
20. What is the definition for GDP?
21. A nation seeking to increase its overall productivity might be best served by investing money into which area?
22. It is important to control the strength of expansions because
23. As real GDP decreases, what increases?
24. How many stages are there in the business life cycle?
25. A full time construction worker working 60+ hours a week at $ 18 per hour plus overtime pay.
← PreviousNext →

Related Quizzes

🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books