What's the difference between a recession and a depression?
A) A recession is accompanied by rising prices; a depression by falling prices.
B) A recession is a major expansion in economic activity; a depression is a contraction.
C) A recession is a small downturn in output and employment; a depression is a large downturn.
D) A recession lasts less than 3 quarters; a depression lasts longer than 3 quarters.
Correct Answer:
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Q1: What does the term, "discouraged worker," mean?
A)
Q2: Pablo was laid off from his job
Q4: Why is the economic downturn that occurred
Q5: Business cycles
A) occur in every type of
Q6: What is a business cycle?
A) The length
Q7: What is an "expansion?"
A) An increase in
Q8: What is a "contraction"?
A) A downturn in
Q9: During the twentieth century, the United States
Q10: Robert Lucas, a well-known University of Chicago
Q11: What is "real business cycle theory"?
A) Outside
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