Macroeconomics Private and Public Choice

Over the past century, the growth rate of real GDP in the United States has averaged approximately

Economists use the term "business cycle" to refer to

The labor force participation rate of women in the United States has been

Suppose there was a country with an adult (age 16 and over) population of 1,000, of which 100 were unemployed and 700 were employed. Which of the following is true?

The type of unemployment caused by changes in the business cycle is

Frictional unemployment is the result of

Suppose an economy is operating at its maximum sustainable output rate. Neither recession nor economic boom are present. Which of the following would be true?

Which of the following individuals would be considered unemployed by the official government definition?

Suppose that the consumer price index at year-end 2008 was 140 and by year-end 2009 had risen to 150. What was the inflation rate during 2009?

Which of the following is true?

The distinguishing characteristics of business cycles are

Economists use the phrase "business cycle" when referring to fluctuations in

The period of declining growth in real GDP between the peak of the business cycle and the trough is called the

The period of growth in real GDP between the trough of the business cycle and the next peak is called the

Which of the following will most likely occur during the contractionary phase of a business cycle?

Which of the following will most likely occur during the expansionary phase of a business cycle?

The recessionary phase of the business cycle is characterized by

The expansionary phase of the business cycle is characterized by

During a sustained economic expansion,

During a period of rapid growth in output,