Personal Finance Unit 1

true or false: 100% employment is probable.

The current unemployment rate is approximately:

What happens to the unemployment rate during the recovery stage of the business cycle?

How prepared are you for the exam?

A loan to an unqualified borrower; interest rate associated with it:

When the demand is not impacted by a change in price

Econ indicator that measures a nation's output:

Gross Domestic Product, the Business Cycle, and Inflation rate are known as:

Which of the following products has inelastic demand?

During this stage of the business cycle, GDP is negative for 2 consecutive quarters:

During this stage of the business cycle the GDP is at maximum output.

SMART Goals:

This condition is the basic economic problem:

Land, Labor and Capital are known as

If the demand stays the same, but the supply increases, what happens to price?

Spending more than you make in a given time period

An undesired economic condition when prices are inflated artificially:

True or False: During the peak phase (prosperity) of the business cycle, prices can go up.