12th Grade Business Cycles Quizzes, Questions & Answers

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This econ final study guide covers key aspects of economic cycles, including phases of the business cycle, unemployment types, and effects of economic changes on employment. It assesses understanding of economic fundamentals...

Questions: 38 | Attempts: 116 | Last updated: Mar 14, 2025

Sample Question 1
A business cycle is the:

Period of time in which there is continuous growth in the economy.

Period of time in which there are two phases, which are: peak and depression.

Economic fluctuations of real GDP along a long-term growth trend.

Period of time in which a business is established and ceases operations.

Sample Question 2
The business cycle consists of four phases. At the top we have:

Recovery, followed by depression, and then recession followed by a peak.

Recovery, followed by a recession, and then peak followed by depression.

Peak, then a depression, followed by recovery, and then recession

Peak, then a recession, followed by depression, and finally, recovery.

Sample Question 3
A general rule is that a recession is a decline in real GDP lasting at least:

One year.

Six months.

Three months.

One month.

12th Grade Business Cycles Quizzes, Questions & Answers

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