What is a business cycle?
A) The length of time a business can sell a product before it becomes obsolete.
B) The length of time it takes a business to take a product from the development stage to the mass market stage.
C) The ups and downs of the economy as measured by GDP growth, employment and profits.
D) The response of the economy to disturbances resulting from outside shocks.
Correct Answer:
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Q1: What does the term, "discouraged worker," mean?
A)
Q2: Pablo was laid off from his job
Q3: What's the difference between a recession and
Q4: Why is the economic downturn that occurred
Q5: Business cycles
A) occur in every type of
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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