Homework Answers
Answer: Option C.
Explanation: Trough is a phase where “the economic activity declines below the normal level.” During the period of trough growth rate becomes negative. National Income and expenditure becomes negative during trough phase.
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In this diagram of the business cycle, the trough is at point trend Iine GDP Time...
Exhibit 6: The Business Cycle Real Output Trend of GDP Years 28) Refer to Exhibit 6,...
Exhibit 6: The Business Cycle Real Output Trend of GDP Years 28) Refer to Exhibit 6, a movement along the real economy from points Y3 to Y4 normally is accompanied with A) an increase in employment rate B) a drop in personal income C) an increase in national production D) a rise in the price level
3. GDP trend and cycle: See Table 2 which shows UK real GDP per capita. Suppose...
3. GDP trend and cycle: See Table 2 which shows UK real GDP per capita. Suppose that the economy was at its trend in 2003. Suppose also that trend growth is one percent per year. Calculate the cycle using the formula Cycle = log (GDP)-log (Trend) In which years was the economy below trend? In which years was the economy above trend? What units is the cycle measured in? What year was the economy furthest above trend? In what year...
1. Your friend asked you what a business cycle means. You tell them that a business...
1. Your friend asked you what a business cycle means. You tell them that a business cycle reflects changes in real GDP. Then you tell them that the stages of a business cycle in correct order are: a. expansion, trough, recession, peak b. expansion, peak, recession, trough c. trough, expansion, recession, peak 2. The point of a fluctuation at which economy turns from a peak to a trough is called a/an ________. a. recession b. Peak c. Expansion 3. Economic...
Q21 In this phase of the business cycle, most businesses appear to be highly profitable. Trough...
Q21 In this phase of the business cycle, most businesses appear to be highly profitable. Trough Recession Recovery Boom
Question 1: A business cycle refers to: the short-run fluctuations in real GDP. the life-cycle of...
Question 1: A business cycle refers to: the short-run fluctuations in real GDP. the life-cycle of firms from infancy to maturity. the flow of goods and services and factors of production through the economy. the long-run trend of increasing real GDP. Question 2: Which of the following industries would experience the greatest increase in demand during an expansion? Accounting services. Baby supply industry. Hair care industry. The furniture industry.
A trough is __________. A) a transition from an expansion in the business cycle to the...
A trough is __________. A) a transition from an expansion in the business cycle to the start of a contraction B) a transition from a contraction in the business cycle to the start of an expansion C) only something used by farmers to feed pigs and is not a term in investments D) none of the above An analyst starts by examining the broad economic environment and then considers the implications of the outside environment on the industry in which...
True false 7. The period in the business cycle from a trough up to a peak...
True false
7. The period in the business cycle from a trough up to a peak is a contraction. The rate of change in economic activity is used to assess whether an economy is expanding or contracting. 8.
3. (1 point) The U.S. economy is subject to the forces of the business cycle. However, real GDP has increased over...
3. (1 point) The U.S. economy is subject to the forces of the business cycle. However, real GDP has increased over time. Explain why this is true. 4. (1 point) If you go to the grocery store and see that your favorite cereal is $3.00 more expensive, does this mean that there is inflation in the economy? Why or why not?
The graph below shows real GDP levels over time. Answer the following questions based on this graph. Business Cycle Rea...
The graph below shows real GDP levels over time. Answer the following questions based on this graph. Business Cycle Real GDP Time a. At time T, what is the economy experiencing? An economic contraction Full-employment output An economic expansion b. In order to smooth out the business cycle, what type of fiscal policy should the government undertake? Expansionary fiscal policy Contractionary fiscal policy c. What type of actions might the government take? An Increase in taxes and a decrease in...
Identify the following parts of the business cycle using the figure to the right The section...
Identify the following parts of the business cycle using the figure to the right The section of the curve to the left of point A is Business Cycle O O Point Ais Real GDP The section of the curve between points A and B is Point B is Real GDP The section of the curve to the right of point B is The agency that identifies a recession is the O A. NBER—National Bureau of Economic Research. O B. BEA—Bureau...
Exhibit 6: The Business Cycle Real Output Trend of GDP Years 28) Refer to Exhibit 6, a movement along the real economy from points Y3 to Y4 normally is accompanied with A) an increase in employment rate B) a drop in personal income C) an increase in national production D) a rise in the price level
3. GDP trend and cycle: See Table 2 which shows UK real GDP per capita. Suppose that the economy was at its trend in 2003. Suppose also that trend growth is one percent per year. Calculate the cycle using the formula Cycle = log (GDP)-log (Trend) In which years was the economy below trend? In which years was the economy above trend? What units is the cycle measured in? What year was the economy furthest above trend? In what year...
True false
7. The period in the business cycle from a trough up to a peak is a contraction. The rate of change in economic activity is used to assess whether an economy is expanding or contracting. 8.
3. (1 point) The U.S. economy is subject to the forces of the business cycle. However, real GDP has increased over time. Explain why this is true. 4. (1 point) If you go to the grocery store and see that your favorite cereal is $3.00 more expensive, does this mean that there is inflation in the economy? Why or why not?
The graph below shows real GDP levels over time. Answer the following questions based on this graph. Business Cycle Real GDP Time a. At time T, what is the economy experiencing? An economic contraction Full-employment output An economic expansion b. In order to smooth out the business cycle, what type of fiscal policy should the government undertake? Expansionary fiscal policy Contractionary fiscal policy c. What type of actions might the government take? An Increase in taxes and a decrease in...
Identify the following parts of the business cycle using the figure to the right The section of the curve to the left of point A is Business Cycle O O Point Ais Real GDP The section of the curve between points A and B is Point B is Real GDP The section of the curve to the right of point B is The agency that identifies a recession is the O A. NBER—National Bureau of Economic Research. O B. BEA—Bureau...
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