Use the following to answer questions 8-12: 8. Refer to the graph above. A compl
ID: 1253150 • Letter: U
Question
Use the following to answer questions 8-12:8. Refer to the graph above. A complete business cycle is represented by:
A) A to G B) O to C C) A to F D) C to F
9. Refer to the graph above. A movement from point A to D represents a(n):
A) trough. B) peak. C) recession. D) expansion
10. Refer to the graph above. A movement from point D to G represents a(n):
A) trough. B) downturn. C) recession. D) expansion
11. Refer to the graph above. A peak occurs when the economy:
A) moves from point C to point F. C) reaches points C or F.
B) reaches points E or D D) reaches points A or B.
12. Refer to the graph above. A recession occurs when the economy moves from point:
A) B to point E. B) C to point F. C) A to point D. D) D to point G.
13. Almost all economists agree that during a(n) __________ economic policy __________ be used to improve economic conditions
A) depression; should C) expansion; should not
B) recession; should D) boom; should not
14. Cyclical unemployment is produced by:
A) a slowdown in economic activity.
B) economic restructuring.
C) the institutional structure of the economy.
D) an increase in the number of people entering the labor force.
15. The automation of an assembly line is likely to result in:
A) structural unemployment. C) cyclical unemployment.
B) frictional unemployment. D) seasonal unemployment.
16. The unemployment produced by fluctuations in economic activity is called:
A) frictional unemployment. C) natural unemployment.
B) cyclical unemployment. D) structural unemployment.
17. Macroeconomic policy is believed to be most effective in reducing:
A) frictional unemployment. C) cyclical unemployment.
B) natural unemployment. D) structural unemployment.
Explanation / Answer
Use the following to answer questions 8-12:
8. Refer to the graph above. A complete business cycle is represented by:
A) A to G B) O to C C) A to F D) C to F
9. Refer to the graph above. A movement from point A to D represents a(n):
A) trough. B) peak. C) recession. D) expansion
10. Refer to the graph above. A movement from point D to G represents a(n):
A) trough. B) downturn. C) recession. D) expansion
11. Refer to the graph above. A peak occurs when the economy:
A) moves from point C to point F. C) reaches points C or F.
B) reaches points E or D D) reaches points A or B.
12. Refer to the graph above. A recession occurs when the economy moves from point:
A) B to point E. B) C to point F. C) A to point D. D) D to point G.
13. Almost all economists agree that during a(n) __________ economic policy __________ be used to improve economic conditions
A) depression; should C) expansion; should not
B) recession; should D) boom; should not
14. Cyclical unemployment is produced by:
A) a slowdown in economic activity.
B) economic restructuring.
C) the institutional structure of the economy.
D) an increase in the number of people entering the labor force.
15. The automation of an assembly line is likely to result in:
A) structural unemployment. C) cyclical unemployment.
B) frictional unemployment. D) seasonal unemployment.
16. The unemployment produced by fluctuations in economic activity is called:
A) frictional unemployment. C) natural unemployment.
B) cyclical unemployment. D) structural unemployment.
17. Macroeconomic policy is believed to be most effective in reducing:
A) frictional unemployment. C) cyclical unemployment.
B) natural unemployment. D) structural unemployment.
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