What is an economic model used for in the context of economic forecasting? To predict stock market trends To determine government policy effectiveness To analyze historical economic data To describe how the economy is expected to perform in the near future

To describe how the economy is expected to perform in the near future

What is the depression scrip in the context of stock market indices? A form of currency used during economic depressions A tool for predicting economic downturns An index of 30 representative stocks used to monitor price changes A measure of economic growth

An index of 30 representative stocks used to monitor price changes

When does a business cycle begin according to economic theory? When the economy reaches a peak and starts to decline When unemployment rates decrease When inflation rates stabilize When the economy reaches a low and begins to climb out of a recession

When the economy reaches a low and begins to climb out of a recession

What event in 2006-07 significantly impacted consumer buying power and contributed to the Great Recession? The bursting of the housing bubble The increase in interest rates The rise in oil prices The decline in manufacturing jobs

The bursting of the housing bubble

Which of the following statements best defines the first phase of a business cycle? A period of economic stability A period in which real GDP declines for at least two quarters in a row A period of high inflation A period of rapid economic growth

A period in which real GDP declines for at least two quarters in a row

What was the primary purpose of creating the Federal Deposit Insurance Corporation (FDIC)? To manage national debt To provide modest bank insurance for depositors To regulate interest rates To control inflation

To provide modest bank insurance for depositors

Business Cycle Analysis: Economic Models, Indicators and Recessionary Periods

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Economics - Macroeconomics

charlotte1oxhi Created by 10 mon ago

Cards in this deck(30)

What is an economic model used for in the context of economic forecasting?

Which type of economic indicator turns down after the economy turns down or turns up after the economy turns up?

What is the depression scrip in the context of stock market indices?

When does a business cycle begin according to economic theory?

What event in 2006-07 significantly impacted consumer buying power and contributed to the Great Recession?

A decline in real GDP lasting at least two quarters or more is called a _____?

A period of recovery from a recession is known as _____?

What indicates what would happen to the economy if it were not interrupted by alternating periods of recession and recovery?

Which of the following statements best defines the first phase of a business cycle?

What was the primary purpose of creating the Federal Deposit Insurance Corporation (FDIC)?

What term describes a period of stagnant economic growth coupled with inflation?

What is the term for a decrease in the general level of prices of goods and services?

What is a market basket in the context of economic indices?

Who are considered debtors in economic terms?

Who are considered creditors in economic terms?

When the general level of prices rises, the economy is experiencing _____?

Which of the following describes demand-pull inflation?

What is the first step in constructing a price index?

What is cost-push inflation characterized by?

Which index is used to measure changes in gross domestic product?

What is outsourcing in the context of business operations?

What does the civilian labor force consist of?

How is the unemployment rate calculated?

What is the GDP gap?

What is the misery rate?

Which of the following is NOT a form of unemployment?

Which of the following is a characteristic of long-term unemployment?

Which of the following is a factor in preventing economic growth?

Which type of unemployment is natural in a free market economy, where workers have the freedom to change occupations?

Which group has the highest unemployment rate in the U.S.?

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Business Cycle Analysis: Economic Models, Indicators and Recessionary Periods

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