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by BlastRoom
Identify expansion, peak, contraction, and trough from economic conditions and cycle graphs.
#us_hs_economics
25 questions
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For six straight months, factory orders have fallen, firms have laid off workers, and real output is lower each quarter. Which business-cycle phase best fits these conditions?
Consumer spending rises, businesses add workers, and real output increases quarter after quarter. Which phase is the economy experiencing?
After a long decline, real output reaches its lowest point and stops falling before beginning to rise. What phase has the economy reached?
Real output has risen for years, reaches its highest point, and is about to begin falling. What phase is this?
Retail sales weaken, inventories pile up, and employers cut work hours as real GDP declines. Which phase is most likely occurring?
New home construction increases, firms invest in equipment, and unemployment generally falls. Which phase best describes this economy?
Business investment and consumer spending have leveled off at a high point after a long period of growth, just before declines begin. Which phase is this?
Production has fallen for many months, but firms now report stable output at the cycle's lowest level. Which phase is most likely?
What phase belongs in the blank on the business-cycle figure?
On the business-cycle figure, what phase does point A show?
What phase belongs in the blank on the business-cycle figure?
On the business-cycle figure, which phase does point B represent?
What phase belongs in the blank on the business-cycle figure?
On the business-cycle figure, what phase does point C identify?
What phase belongs in the blank on the business-cycle figure?
What turning point is point A on the figure, and what follows it?
What turning point is point B on the figure, and what follows it?
In the second cycle shown, which sequence describes point C?
Which sequence describes point D on the figure?
In the business-cycle model, what does the straight rising line through the middle of the wave represent?
Which condition matches the commonly used classroom rule for identifying a recession?
Which list gives the four standard phases of the business cycle in their usual order?
A country enters its second year of strong expansion. What is most likely happening to employment and household incomes?
During a contraction, what is the most likely change in business sales and employment?
An economy has just reached a trough after a severe contraction. What is most likely to happen next?
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Inflation, Deflation and the CPI
25 questions
