Show:
Business Cycle
Recession
depression
Recovery
Mix and Match
100
The total value, in dollars, of all final goods and services produced within the nation each year?
What is GDP
100
A period in which the demands begin to decrease, businesses lower production, and unemployment begins to rise?
What is Recession
100
A phase marked by a prolonged period of high unemployment, weak consumer sales, and business failures?
What is Depression
100
A phase in witch unemployment begins to decrease, demands for goods and services increase, and GDP begins to increase again?
What is Recovery
100
An increase in the general level of prices
What is Inflation
200
what is at the peak of the business cycle?
What is Prosperity
200
When does recession occur?
What is When the economy slows down
200
what was the period of the united states from 1930-1940 referred to as?
What is The great depression
200
Recover may be slow or
What is Fast
200
decrease in general level of prices?
What is deflation
300
what happens to GDP in prosperity?
What is GDP increases
300
if people buy fewer cars, a number of workers who make tires, batteries, and other parts may loose their jobs. this effect if called
What is The ripple effect
300
what 3 things happen in depression?
What is High unemployment, weak consumer sales, and business failures
300
what 3 things happen during recovery?
What is Employment rises, business's regain confidence,and GDP rises
300
a number that compares prices of one year to prices of a past year?
What is Price index
400
Prosperity is the ____ point of the business cycle?
What is Highest
400
-Businesses cut back production and layoff people -Unemployment increases -Number of jobs decline
What is Contraction
400
during depression most people can barely afford their ____?
What is basic needs
400
as recover continues in a nation the nation moves back to ____?
What is prosperity
400
in simple terms _____? represents the cost of money?
What are Interest rates
500
What eventually happens to the economy during prosperity?
What is the economy cools off
500
during recession GDP growth slows for ____ quarters of the calendar year?
What is 2 or more
500
what phase is contraction in the business cycle?
What is the 3rd phase
500
the recover phase is also known as a?
What is Welcome phase
500
A prolonged contraction is called a
What is recession