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What is the correct order for the business cycle process?
Prosperity, Recession, Depression, Recovery
T or F,Prosperity goes on forever
False
T or F, recession is the period where demand begins to increase?
False, demand begins to decrease
When was the last depression in the U.S?
1930's
During recovery, what happens to the GDP?
It begins to rise again
Peak of the business cycle
Prosperity
Does activity slow down or fasten up during prosperity?
Slow down
During Recession, how long does GDP growth slow down?
2 or more quarters of the year
Is depression short or long during the business cycle?
Long
Is recovery slow, fast, or both?
Either one
What is the phase where business begins to thrive again?
Recovery
T or F, during prosperity, the demands for goods and services are high?
True
Do businesses gain or lower in production during Recession?
Lower
T or F, there are high consumer sales during depression
False, weak sales
T or F, unemployment increases during recovery
False, decreases
Approximately what % of the labor force was unemployed during the Great Depression?
25%
In prosperity, does GDP growth increase or decrease?
Increase
Does recession last for long periods, short ones, or both?
Both
No, some, many, or all people cant afford their basic needs during depression?
Many
After this last phase of the cycle, the nation then moves back into____?
Prosperity
During which phase does the ripple effect take place?
Recession
During prosperity, are employed people happy to be working
Yes, people who want to work are working
Does total output decline or increase during recession?
Decline
T or F, all businesses fail during depression?
False, some continue to produce money
Recovery is also known as the _____ phase of the business cycle
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