The Business Cycle

Expanding operations during periods of recovery or expansion involve ________________.

The external economic factors that affect business cycles are all EXCEPT _____________________.

The movement of an economy through recurring phases is _____________.

Recession is a period of economic slowdown that lasts for at least __________ months.

Economic expansion begins again after this stage.

___________ continues until it reaches a peak, at which time a contraction then begins.

True or False: The government's influence over business cycles involves changes to governmental spending and taxes.

True or False: Limiting operations during periods of recession include hiring more workers.

During a period of economic prosperity and recovery, consumers are ________.

Generally, the business cycle is measured and tracked in terms of what?

When potential GDP is less than actual GDP there exists a

The lowest point of the buisness cycle is?

True or False: During a recession, consumers fear the loss of jobs and decreased wages.

What is NOT one of the phases of the Business Cycle?

When potential GDP is greater than actual GDP there is a