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Q 1/19
Score 0
During the business cycle, an economic expansion occurs
45
at the peak of the business cycle
at the trough of a business cycle
in between the trough and peak
in between the peak and trough
Q 2/19
Score 0
Leading indicators are
45
used to predict future economic conditions
used to roughly approximate future economic conditions
good at predicting expansions and recessions
used to gauge current economic conditions
19 questions
Q.
During the business cycle, an economic expansion occurs
1
45 sec
Q.
Leading indicators are
2
45 sec
Q.
Which of the following would be included as a member of the labor force?
3
45 sec
Q.
Which one of the following persons would NOT be considered unemployed?
4
45 sec
Q.
Unemployment caused by a recession is called
5
45 sec
Q.
Frictional unemployment often occurs when
6
45 sec
Q.
Workers at a steel plant are laid off because the economy is weak and the demand for products requiring steel has fallen. What type of unemployment best describes the workers' situation?
7
45 sec
Q.
Which of the following are consequences of unemployment?
8
45 sec
Q.
The price index used to calculate most cost-of-living adjustments (COLA) is the
9
45 sec
Q.
Inflationary expectations are important because widespread changes in inflationary expectations affect
10
45 sec
Q.
Unexpected inflation will
11
45 sec
Q.
Which of the following people would be considered unemployed?
12
45 sec
Q.
Workers at a car-manufacturing plant in Flint, Michigan are laid off because the economy is weak and GM cars aren't selling well. GM isn't sure when the plant will reopen. What type of unemployment describes the workers' situation?
13
45 sec
Q.
How do economists calculate GDP for one year using the expenditure approach?
14
45 sec
Q.
Which of the following is a nondurable good?
15
45 sec
Q.
What is one limitation of GDP?
16
45 sec
Q.
What typically happens to consumer and business spending when interest rates go up?
17
45 sec
Q.
Which of the following was a lasting effect of the OPEC oil embargo in the 1970s on the U.S. economy?
