business cycle quiz

business cycle

1 / 21

Which of the following is least likely one of the three types of unemployment ?

2 / 21

The current annual inflation rate, as measured by using the Consumer Price Index (CPI), is best defined as:

3 / 21

The contraction phase of the business cycle is least likely accompanied by decreasing :

4 / 21

Which of the following most accurately describes the Monetarist school of macroeconomic thought in relation to aggregate demand and aggregate supply ? Monetarists believe that the money supply should be :

5 / 21

According to Austrian school theory, business cycles are caused by :

6 / 21

The labor-force participation rate is defined as the percentage of the :

7 / 21

In which of the following inflation scenarios does short-run aggregate supply decrease due to increasing wage demands ?

8 / 21

During an economic contraction :

9 / 21

According to which business cycle theory should expansionary monetary policy be used to fight a recession?

10 / 21

Which of the following statements regarding inflation is most accurate ?

11 / 21

When the economy enters an expansion phase, the most likely effect on external trade is a(n):

12 / 21

The unemployment rate is defined as the number of unemployed as a percentage of:

13 / 21

The unemployment rate is the number of unemployed individuals divided by the :

14 / 21

An economic indicator that has turning points which tend to occur after the turning points in the business cycle is classified as:

15 / 21

Which of the following is least likely to reduce substitution bias in a consumer price index ?

16 / 21

Maddeline Bradley left her position at a commercial bank to raise her two-year-old daughter. How is Bradley classified from the viewpoint of employment statistics ?

17 / 21

Increases in firms' inventory-sales ratios are most likely to occur :

18 / 21

When individuals are unemployed because they do not have perfect information concerning available jobs, this is :

19 / 21

Core inflation is best described as an inflation rate:

20 / 21

Consumer price indexes are least likely to :

21 / 21

In the early part of an economic expansion, inventory-sales ratios are most likely to :


business cycle

theories of the business cycle

economic indicators

inflation, hyperinflation, disinflation, and deflation

cost-push inflation and demand-pull inflation

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