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The Business Cycle & GDP Flashcards | StudBud
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The Business Cycle & GDP
The Business Cycle & GDP
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StudBud Administration
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15 Questions actually about the subject plus 5 Fun Questions for Advanced Marketing
Flashcards
14 cards
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Questions
14
Answers
1
___________ continues until it reaches a peak, at which time a recession then begins.
Recession
Depression
Recovery
Expansion
2
During a period of economic prosperity and recovery, consumers are ________.
Doubtful
Depressed
Optimistic
Worried
3
Which of these would NOT be included in 2017's GDP
The Social Security Check you cashed
The subway sandwich you ate for lunch today
Equipment you bought for your firm2
The new Honda Civic
4
What is GDP
The value of final and intermediate goods & services in 1 yr
The value of new goods produced in a year
The value of new and used goods in a year
the value of all final goods and services produced in 1 yr
5
Recession is a period of economic slowdown that lasts for at least __________ months.
six
three
nine
twelve
6
Economic expansion begins again in this stage.
Recession
Depression
Recovery is the ANSWER
External
7
What is the largest component of GDP
investment
net exports
consumption
government expenditures
8
The ______ can lower interest rates in order to encourage spending by businesses and consumers.
Treasury
Board of Governors
President
Federal Reserve
9
What does the government use to compare the standard of living?
distribution of wealth
Nominal GDP
Real GDP
GDP Per Capita
10
Generally, the business cycle is measured and tracked in terms of what?
GDP
Debt
Imports
Taxes
11
True or False: During a recession, consumers fear the loss of jobs and decreased wages.
True
False
12
What is
NOT
one of the phases of the Business Cycle?
Depression
Advantage
Recession
Recovery
13
The movement of an economy through recurring phases is _____________.
Business Cycle
Recession
Depression
Expansion
14
The lowest point of the buisness cycle is?
Expansion
Recession
Trough
Depression
