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Stages of the Business Cycle
The Great Depression
Causes of the Business Cycle
Predicting Business Cycles
100
The highest point of real GDP.
What is the peak?
100
Money printed by towns, counties, etc to pay teachers, firefighters, police officers and other municipal employees.
What is depression scrip?
100
When the economy is expanding, businesses invest highly in capital goods.
What is capital expenditures?
100
A macroeconomic model that uses algebraic equations to explain the behavior of economic trends.
What is an econometric model?
200
The lowest point in the trend line. Also referred to as the "turn around" point.
What is trough?
200
In order to prevent panic withdrawals, the federal government declared this in March of 1933.
What is a bank holiday?
200
Businesses cut back or gain their business inventories.
What is inventory adjustments?
200
The equation that most models used today are based off of.
What is GDP = C + I + G + (X - M)
300
When real GDP declines for two quarters in a row. (6 months)
What is recession?
300
What often takes a more prominent economic stance in times of severe recession.
What is a barter system?
300
A new product or a new way of performing a task has entered the market.
What is innovation and imitation?
300
A tool used to predict the turning points within the business cycle.
What is the index of leading indicators?
400
A state where a large number of people are out of work and there are acute shortages.
What is depression?
400
The day the stock market crashed, causing the start of the Great Depression.
What is October 29, 1929 or Black Tuesday?
400
Wars, increase in oil prices, international conflict, etc.
What is external shocks?
400
Neil Peart produced 2 albums in honor of this great drummer.
What is Buddy Rich?
500
The period of recovery from recession.
What is expansion?
500
Geddy Lee, Neil Peart & Alex Lifeson
What is Rush?
500
Song with the lyrics "Can't do the time, Don't do the crime."
What is Test for Echo?
500
The airport destination in Toronto, Canada. Also the name of a Rush song from Moving Pictures.
What is YYZ?