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ECO 561 Week 4 Knowledge Check (Quiz)
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1.

Business cycles occur when output

2.
Which of these statements best describes a complete individual
buisness cycle?
3.
During the buisness cycle, the period between the point at which
output reaches a high and the point at which it reaches a low is called
4.
Which of the following equals the market value of all final
goods and services produced in an economy, stated in the prices of a
specific base year?
5.
Imagine a country has a population of 210 million. Within the
country there are 95 million people who are employed workers. 50
million people incapable of working, and 60 million people capable of
working, but not actively looking. Based on this information, what is
the unemployment rate?
6.
The unemployment produced by fluctuations in economy
activity is called
7.

New college graduates are most likely to experience

8.

The natural rate of unemployment is defind as the

9.

The Consumer Price Indx (CPI) is based on

10. Unanticipated inflation is a problem for society because it