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- 1. Multiple ChoiceThe Lowest point in the business cyclePeakTroughExpansionContraction
- 2. Multiple ChoiceThe HIGHEST Point in business cyclePeakTroughContractionRecession
- 3. Multiple ChoiceWhich phase of the Business Cycle includes the economy slowing down?ProsperityRecessionDepressionRecovery
- 4. Multiple ChoiceThe lowest point of output in a recession, before a recovery begins is calledtrade deficitdepressiontroughrecovery
- 5. Multiple ChoiceWhen a recession is predicted in an economy which of the following occurs?businesses decrease investmentconsumers increase spendingbusinesses increasing hiringbusinesses increase investment
- 6. Multiple Choice
Which letter represents the Contractionary (Recession) Phase?ABCD - 7. Multiple ChoiceWhere on the business cycle would you find the highest unemployment?ABCD
- 8. Multiple ChoiceWhich phase of the Business Cycle includes the economy slowing down?ExpansionRecessionDepressionRecovery
- 9. Multiple Choice
This economic model is called:
The business cycle
Supply & demand
Production Possibilities Curve
Circular Flow Model
- 10. Multiple Choice
Point 3 represents
Trough
Expansion
Peak
Depression
- 11. Multiple Choice
Which recent historical event most represents Point 2 and 3 on the chart?
Great Recession
Current Economy
Great Depression
"Dot Com" Boom of the early 2000s
- 12. Multiple Choice
What is the biggest difference between a "recession" and a "depression"?
Length and severity of economic contraction
Depressions are more frequent than recessions
Depressions only happen when banks fail
Recessions are more severe than depressions
- Answer choicesTagsAnswer choicesTags