Macroeconomics Chapter 6 Exam Practice Questions with complete Solutions Rated A+
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Macroeconomics
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Macroeconomics
Macroeconomics Chapter 6 Exam Practice Questions with complete Solutions Rated A+
Which of the following is true of the business cycle record of the United States?
a.
Recessions have been lengthier during the last two decades than was true prior to 1980.
b.
Real GDP contracted throughout most ...
Macroeconomics Chapter 6 Exam Practice Questions with complete Solutions Rated A+
Which of the following is true of the business cycle record of the United States?
a.
Recessions have been lengthier during the last two decades than was true prior to 1980.
b.
Real GDP contracted throughout most of the 1950s.
c.
Real GDP in 2000 was approximately the same as 1950.
d.
Since 1950, the fluctuations in GDP have been less severe than before 1950. - Answers d. Since 1950, the
fluctuations in GDP have been less severe than before 1950.
A business cycle is the: - Answers recurring growth and decline in real GDP.
The period during which real output falls during a business cycle is called: - Answers recession.
As a general rule, a recession occurs when there is a six consecutive month fall in: - Answers real GDP.
Since World War II, the average length of recessions in the United States has been: - Answers 11
months.
What stage of the business cycle immediately follows the trough? - Answers recovery.
Since 1929, real GDP in the United States has grown at an average annual rate of about: - Answers 3%
The government's chief forecasting gauge for business cycles is the: - Answers index of leading
indicators.
Suppose the index of leading economic indicators begins to decline for several months. Which of the
following economic events will likely follow? - Answers A recession.
Economic indicators, like unemployment claims and the average workweek, which change before real
GDP changes, are called: - Answers leading.
Which of the following groups of people are members of the labor force? - Answers People over 16
years of age who are employed.
The civilian labor force consists of: - Answers the employed plus the unemployed who are not in the
military.
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