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Bizhelp, CPA
Category: Multiple Problems
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Experience:  BA degree and Certified Public Accountant
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The recovery phase of the business cycle ends when we: A.

Resolved Question:

The recovery phase of the business cycle ends when we:
A. re-attain the level of the previous peak.
B. re-attain the level of the previous trough.
C. go into the next recession.
D. are back at full employment.
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Question 2 of 20
5.0 Points
__________ is NOT an endogenous business cycle theory.
A. Psychological theory
B. Demographic theory
C. Monetary theory
D. Innovation theory
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Question 3 of 20
5.0 Points
Demand-pull inflation is often summed up as:
A. too many dollars chasing too few goods.
B. the wage-price spiral.
C. profit-push inflation.
D. supply-side cost shock inflation.
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Question 4 of 20
5.0 Points
The unemployment that occurs as jobs are eliminated because of changing technology is known as:
A. frictional.
B. voluntary.
C. structural.
D. fundamental.
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Question 5 of 20
5.0 Points
During the early 1980s the changes that occurred in inflation and unemployment rates:
A. suggest that disinflation can occur only if unemployment increases significantly.
B. support the notion of a stable Phillips curve.
C. suggest that both inflation and unemployment can be consistently reduced by dramatically increasing interest rates.
D. All of the above
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Question 6 of 20
5.0 Points
During business cycles:
A. troughs are followed by recessions.
B. troughs are followed by peaks.
C. peaks are followed by troughs.
D. peaks are followed by recessions.
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Question 7 of 20
5.0 Points
Inflation generally occurs:
A. in wartime.
B. before wars.
C. during recessions.
D. in peacetime.
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Question 8 of 20
5.0 Points
Kimberly quit her job as a computer programmer, spent two weeks in Hawaii, and is now looking for (and expects to soon find) another job. She is __________ unemployed.
A. psychologically
B. structurally
C. frictionally
D. cyclically
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Question 9 of 20
5.0 Points
In 1973 the OPEC countries:
A. lowered the price of oil by 50%.
B. raised the price of oil by 50%.
C. doubled the price of oil.
D. quadrupled the price of oil.
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Question 10 of 20
5.0 Points
The term recession refers to a:
A. period of decline in real GDP for two business quarters.
B. fall in the general level of real wages.
C. fall in the CPI.
D. fall in the rate of increase of real per capita GDP.
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Question 11 of 20
5.0 Points
The unemployment rate is a fraction whose numerator is the:
A. total population.
B. number of employed.
C. number of unemployed.
D. difference between the total population and the number of employed.
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Question 12 of 20
5.0 Points
A lender need NOT be penalized by inflation if the:
A. long-term rate of inflation is less than the short-term rate of inflation.
B. short-term rate of inflation is less than the long-term rate of inflation.
C. lender correctly anticipates inflation and increases the nominal interest rate accordingly.
D. inflation is unanticipated by both borrower and lender.
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Question 13 of 20
5.0 Points
What does NOT occur in a fully employed economy?
A. Cyclical unemployment
B. Discouraged workers
C. Frictional unemployment
D. Structural unemployment
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Question 14 of 20
5.0 Points
The Consumer Price Index measures changes in:
A. the money supply.
B. all prices.
C. the cost of living.
D. the cost of consumer credit.
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Question 15 of 20
5.0 Points
Discouraged workers are officially:
A. unemployed.
B. employed.
C. not in the labor force.
D. in the labor force.
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Question 16 of 20
5.0 Points
Business cycles:
A. have been a recurring source of debate to economic theory throughout history.
B. represent a fairly recent problem confronting economic systems.
C. show very regular and smooth patterns of ups-and-downs in economic systems.
D. cannot occur in market-based economic systems.
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Question 17 of 20
5.0 Points
Which can be negative?
A. Only the nominal rate of interest
B. Only the real rate of interest
C. Both the nominal and real rates of interest
D. Neither the nominal nor the real rate of interest
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Question 18 of 20
5.0 Points
For purposes of calculating the unemployment rate, a person who is between jobs is:
A. counted as being structurally unemployed.
B. not included in the labor force.
C. not included in the population.
D. counted as being frictionally unemployed.
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Question 19 of 20
5.0 Points
The U.S. Department of Labor calculates the unemployment rate by:
A. totaling the number of households receiving unemployment compensation.
B. analyzing federal income tax returns.
C. surveying households.
D. surveying businesses to determine patterns of hiring and layoffs.
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Question 20 of 20
5.0 Points
Submitted: 4 years ago.
Category: Multiple Problems
Expert:  Bizhelp replied 4 years ago.

Thanks for the questions.

Please click here for the answers.

If you left off Question #20 above, please reply with it so i can answer it.

Hope this helps!

Expert:  Bizhelp replied 4 years ago.

Please click here for the answers.

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