the increase in production and prices (low interest)
What is expansion?
100
during an increase of unemployment the recovery does what?
What is decreases
100
what is the unemployment rate like when the business cycle is at its trough?
What is unemployment increases?
100
a time when a countries expansion is at its highest level. You can identify this term only after it passes?
What is peak?
200
Stock exchanges crash and multiple bankruptcies of firms occur
What is crisis?
200
when productivity is high prosperity it what?
What is high ;)
200
when you're too skilled for the job you are working?
What is underemployment?
200
this is the opposite of expansion during this time production goes down, hiring goes down, and people are less happy. A countries output commonly decreases at this time.
What is contraction?
300
drop in prices and in output high (interest rates)
What is recession?
300
when unemployment is high recession does what?
What is increases
300
someone who has been actively looking for jobs and isn't getting work
What is discouraged worker?
300
this is the opposite of peak. the lowpoint of the economy can only be identified when productivity begins to head upward again.
What is trough?
400
this causes prices and incomes to fall drastically causing stocks to slowly bounce back
What is recovery
400
reflects the general increase in the cost of goods and services
What is inflation
400
these type of people work these types of jobs during certain periods of the year
What is seasonal job?
400
part of an overall pattern that economist call the business cycle?
What is recession?
500
who was the 1860 french economist that first identified economic cycles?
What is clement juglar
500
name all four periods of the cycle and label their locations on the graph?
What is prosperity-PEAK, depression- TROUGH, recovery- EXPANSION, recession- CONTRACTION
500
the period of unemployment where a person is in a change of jobs or hunting for their first job
What is frictional unemployment?
500
A happy time for people because it means that more money is coming into the economy and that people and businesses are able to afford more things than they normal might be able too?