AnswersVT-GA-EOC-Personal Finance Economics A ULHSTechnology and Economics

Inflation and Stagflation Answers

0 verified answers1 views
1
Free Preview

During a recession, what is one way governments try to encourage growth?

A
by increasing unemployment benefits
B
by stopping government spending
C
by requiring firms to maintain production
D
by eliminating all tax breaks
2
Free Preview

Which best describes what is represented in the business cycle model?

A
the interactions between producers and consumers
B
the change in production cost
C
macroeconomic trends
D
supply and demand trends
3

There are four stages in an economic recovery. 1. increased production2. rising demand (occurs twice)3. increased hiring In which order do these stages occur?

A
2, 1, 2, 3
B
3, 2, 1, 2
C
2, 3, 1, 2
D
2, 1, 3, 2
4

Which best describes how a recession develops as demand and production decrease?

A
The recession enters a recovery period.
B
The recession slows.
C
The recession accelerates.
D
The recession starts and stops.
5

Which scenario best reflects the relationship between production and demand in a recession?

A
Car dealerships have minimal overstock.
B
Car dealerships are not restocking.
C
Car dealerships cannot sell their stock.
D
Car dealerships cannot obtain stock.
6

Which event most likely explains renewed demand in a recovery period?

A
Consumers choose to save more and spend less.
B
Economic policy renews consumer confidence and demand.
C
Producers decrease prices to prompt demand and recovery.
D
Production decreases to prompt increased demand.
8

When production is very high but demand is very low, it can lead to

A
a recession.
B
a recovery.
C
prosperity.
D
the peak.
9

Which indicators do economists use to determine the state of the economy? Choose three answers.pricesimmigration levelsagricultural outputemployment levelsgross domestic product (GDP)

A
prices
B
immigration levels
C
agricultural output
D
employment levels
E
gross domestic product (GDP)
10

The graphs show the US unemployment rate and the price of whole milk between 2006 and 2012.

Question illustration
A
There is no link between prices and unemployment.
B
Rising unemployment rates drive prices higher.
C
Falling prices drive unemployment rates lower.
D
As unemployment rates rise, average prices fall.

Did you find these answers helpful?

More from this Course

Quiz
10 verified answers

Pre-Test

Quiz
10 verified answers

Technology and Economics

Quiz
10 verified answers

Writing Workshop: The Importance of Free Enterprise

Inflation and Stagflation Answers —…