Business Cycle/Monetary and Fiscal Policy

The Business Cycle measures ___ over time.

The business cycle is made up of how many phases?

GDP declines during a(an)

Economic recovery begins-

Where on the business cycle is the current economy if a news headline says, "Finally!!! 2 straight months of increased jobs."?

Where on the business cycle is the current economy if a news headline says, "3 months of consecutive job losses is impacting consumer confidence"?

Which of the following is a peak? A, B, C, D

Which of the following is an expansion, or recovery? A, B, C, D

Which of the following is a trough? A, B, C, D

Which of the following is a recession, or contraction? A, B, C, D