Econ Chap 9

Your page rank:

Total word count: 347
Pages: 1

Calculate the Price

- -
275 words
Looking for Expert Opinion?
Let us have a look at your work and suggest how to improve it!
Get a Consultant

Recurring upswings and downswings in an economy’s real GDP over time are called:

business cycles.

In the United States, business cycles have occurred against a backdrop of a long-run trend of:

rising real GDP.

Most economists agree that the immediate determinant of the volume of output and employment is the:

level of total spending.

As it relates to economic growth, the term long-run trend refers to:

the long-term expansion or contraction of business activity that occurs over 50 or 100 years.

In which of the following industries or sectors of the economy will business cycle fluctuations likely have the greatest effect on output?

capital goods

The industries of sectors of the economy in which business cycle fluctuations tend to affect output most are:

capital goods are durable consumer goods.

During a sever recession, we would expect output to fall the most in:

the construction industry.

The phase of the business cycle in which real GDP declines is called:

a recession.

The phase of the business cycle in which real GDP is at a minimum is called:

the trough.

The production of durable goods varies more than the production of nondurable goods because:

durables purchases are postponable.

A recession is defined as a period in which:

real domestic output falls.

In which phase of the business cycle will the economy most likely experience rising real output and falling unemployment rates?


Which of the following statements is true about causes of business cycle fluctuations?

There are a wide range of theories as to the underlying causes of business cycle movements.

Which of the following is not seen by economists as an underlying cause of business cycle fluctuations?

All of these are identified as causes of business cycle changes.

Most economists agree that the immediate cause of most business cycle variation is:

an unexpected change in the level of total spending.

An unexpected increase in total spending will cause an increase in GDP:

if prices are sticky.

What is the primary reason that changes in total spending lead to cyclical changes in output and employment?

significant innovations occur irregularly and unexpectedly.

Share This

More flashcards like this

NCLEX 10000 Integumentary Disorders

When assessing a client with partial-thickness burns over 60% of the body, which finding should the nurse report immediately? a) ...

Read more


A client with amyotrophic lateral sclerosis (ALS) tells the nurse, "Sometimes I feel so frustrated. I can’t do anything without ...

Read more

NASM Flashcards

Which of the following is the process of getting oxygen from the environment to the tissues of the body? Diffusion ...

Read more

Unfinished tasks keep piling up?

Let us complete them for you. Quickly and professionally.

Check Price

Successful message