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Business Cycles Quiz 7 (25 MCQs)

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1. As real GDP increases, what else increases?
2. Advances in technology make the assembly-line worker's job obsolete.
3. _____ sector generates the lowest percentage of their revenues abroad.
4. This is considered the highest point in the business cycle where the economy is producing at maximum output
5. A taxi driver in Athens is laid off because the taxi company he works for is losing business to Uber and Lyft. What type of unemployment is he experiencing
6. A (An) _____ is a cause of a trough.
7. How is nominal GDP calculated?
8. Which choice shows the stages of the business cycle in the correct order?
9. In the new Keynesian models,
10. The Los Angeles Lakers are in the playoffs this year and are expected to sell more merchandise. Will this count towards GDP?
11. What type of Unemployment is represented here?Scenario:The economy is on the decline causing businesses to lay off employees
12. The National Debt is
13. Wages are highest
14. Fill in the blank. GDP is the total value of _____ goods and services produced in the economy in a year
15. In which phase would firms be expanding and opening up new locations
16. Which of the following is NOT an indicator of the business cycle? A. B. C. D.
17. Which of the following is not a stage in the business life cycle?
18. The more GDP increase from one year to the next,
19. What type of GDP uses a base year's prices in order to make fair comparisons?
20. The four phases of the business cycle are:
21. In the post-maturity stage, they business may head in one of three directions
22. Which stage is often referred to as the riskiest stage of the life cycle?
23. _____ sector has seen the most convincing patterns of outperformance in the late cycle.
24. Business Cycle is defined as:
25. Growing inventory and decreasing sales growth is indicative of a country in the _____ stage of the business cycle.
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