How is the consumer price index calculated?

Value of a group of products - Previous year's value.

What are the factors that can be affected in the business cycle?

Businesses, Supply and demand, Employment, GDP

How do interest rates impact businesses?

Higher interest rates mean higher expenses.

Rate banks charge to borrow money.

What is a Mortgage rate?

Interest rate paid to the lender to borrow $ for a home loan

How do lower prices impact deflation?

Businesses make less of a profit.

The 4 phases of the business cycle are...

Prosperity, recession, depression, and recovery.

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1.02 How are Economic Conditions Classified?

15 termsStudBud Administration107 plays

A quiz to go over economic conditions and business type questions.

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Questions 15

Answers

1
During recovery, what happens to employment?
Unemployment increases.
Unemployment is not content with itself.
Unemployment decreases.
Unemployment thinks about its' life choices.
2
What is inflation?
Prolonged increase in the general level of prices.
When you blow up a balloon.
3
GDP stands for...
Gross domestic pirate.
Gross domestic product.
Good day pal.
Grow delicious peas.
4
During the prosperity stage, what happens to the demand?
Demand decreases.
Demand increases.
5
What is deflation?
Decrease in the general level of prices.
Less money.
Setback in the amount of money.
Decrease of -flation.
6
During depression, what happens to the employment trend?
High unemployment.
Low unemployment.
7
How is the consumer price index calculated?
Value of a group of products - Previous year's value.
The value of a group of products * every grain of sand.
The value of a group of products + 2 dozen donuts.
The value of a group of products/cats.
8
What are the factors that can be affected in the business cycle?
Businesses
Supply and demand
Employment
GDP
9
How do interest rates impact businesses?
Higher interest rates mean lower expenses.
Higher interest rates mean higher expenses.
10
What is prime rate?
The cost of borrowing money.
Rate banks charge to borrow money.
Interest rate banks pay to borrow $ from the Federal Reserve
Amazon Prime's speed.
11
What is a Mortgage rate?
Rate to gage your ears.
Interest rate paid to the house to borrow $ a person loan.
Rate paid to meet Morgan Freeman
Interest rate paid to the lender to borrow $ for a home loan
12
When the business cycle is at its highest point, what is this called?
Prime
Peak
Height
Summit
13
During recovery, what happens to the supply and demand of goods and services trend/GDP?
GDP begins to rise.
GDP begins to fall.
14
How do lower prices impact deflation?
Business loan more money.
Businesses make less of a profit.
Businesses make more profit.
Businesses hire more workers.
15
The 4 phases of the business cycle are...
Contraction, recession, depression, and recovery.
Salmon, trough, depression, and recovery.
Peak, recession, depression, and recovery,
Prosperity, recession, depression, and recovery.

1.02 How are Economic Conditions Classified? Flashcards | StudBud