Economics Unit 6 Review

What is the name given to unemployment that occurs because people want to take time to find a job?

What is the highest point in the business cycle?

What often happens to stock prices when a recession in the economy is in the future?

Real GDP is calculated using unchanging prices.

Nominal ​ GDP ​ is calculated using __________ prices.

What is the lowest point of the business cycle called?

Near-zero rates of unemployment are not desirable because they often lead to what?

Which of the following organizations conducts economic research and maintains a list of leading economic indicators?

Which goal of the U.S. economy is characterized by the government providing a safety net for those struggling?

Which of the following is NOT a factor that influences the business cycle?

Unemployment can force the economy into a contraction because consumers stop purchasing high priced products.

Which goal of the U.S. economy is characterized by the maximum utilization of resources?

Cyclical unemployment occurs because a worker's skills do not match available jobs.