# Do My Phoenix Eco 561 Coursework Week Four Knowledge Check

## Do My Phoenix Eco 561 Coursework Week Four Knowledge Check

Question – 1.BusinessÂ cyclesÂ occurÂ whenÂ outputÂ
A.fallsÂ belowÂ itsÂ potentialÂ
B.risesÂ aboveÂ itsÂ potentialÂ
C.isÂ fixedÂ atÂ itsÂ potentialÂ
D.fluctuatesÂ aroundÂ itsÂ growthÂ trendÂ
Â
Â
2.WhichÂ ofÂ theseÂ statementsÂ bestÂ describesÂ aÂ completeÂ individualÂ businessÂ cycle?Â
A.MovementÂ fromÂ peakÂ toÂ troughÂ toÂ peakÂ
B.MovementÂ fromÂ recessionÂ toÂ expansionÂ
C.MovementÂ fromÂ peakÂ toÂ recessionÂ toÂ troughÂ
D.MovementÂ fromÂ troughÂ toÂ expansionÂ thenÂ toÂ peakÂ
Â
3.DuringÂ theÂ businessÂ cycle,Â theÂ periodÂ betweenÂ theÂ pointÂ atÂ whichÂ outputÂ reachesÂ aÂ highÂ …Read MoreandÂ theÂ
pointÂ atÂ whichÂ itÂ reachesÂ aÂ lowÂ isÂ calledÂ
A.aÂ peakÂ
B.aÂ troughÂ
C.anÂ expansionÂ
D.aÂ recessionÂ
Â
4.WhichÂ ofÂ theÂ followingÂ equalsÂ theÂ marketÂ valueÂ ofÂ allÂ finalÂ goodsÂ andÂ servicesÂ producedÂ inÂ anÂ
economy,Â statedÂ inÂ theÂ pricesÂ ofÂ aÂ specificÂ baseÂ year?Â
A.NominalÂ GNPÂ
B.NominalÂ GDPÂ
C.RealÂ GDPÂ
D.RealÂ GNPÂ
Â
5.ImagineÂ aÂ countryÂ hasÂ aÂ populationÂ ofÂ 210Â million.Â WithinÂ theÂ countryÂ thereÂ areÂ 95Â millionÂ peopleÂ
whoÂ areÂ employedÂ workers,Â 50Â millionÂ peopleÂ incapableÂ ofÂ working,Â andÂ 60Â millionÂ peopleÂ capableÂ ofÂ
working,Â butÂ notÂ activelyÂ looking.Â BasedÂ onÂ thisÂ information,Â whatÂ isÂ theÂ unemploymentÂ rate?Â
A.3%Â
B.5%Â
C.7%Â
D.9%Â
Â
6.TheÂ unemploymentÂ producedÂ byÂ fluctuationsÂ inÂ economicÂ activityÂ isÂ calledÂ
A.frictionalÂ unemploymentÂ
B.cyclicalÂ unemploymentÂ
C.naturalÂ unemploymentÂ
D.structuralÂ unemploymentÂ
Â
7.NewÂ Â graduatesÂ areÂ mostÂ likelyÂ toÂ experienceÂ
A.frictionalÂ unemploymentÂ
B.cyclicalÂ unemploymentÂ
C.naturalÂ unemploymentÂ
D.structuralÂ unemploymentÂ
Â
8.TheÂ naturalÂ rateÂ ofÂ unemploymentÂ isÂ definedÂ asÂ theÂ

A.highestÂ sustainableÂ rateÂ ofÂ unemploymentÂ achievableÂ underÂ existingÂ conditionsÂ
B.unemploymentÂ rateÂ thatÂ isÂ consistentÂ withÂ theÂ economyÂ operatingÂ atÂ itsÂ potentialÂ outputÂ
C.unemploymentÂ rateÂ atÂ whichÂ thereÂ isÂ noÂ cyclicalÂ unemploymentÂ
D.theÂ rateÂ ofÂ unemploymentÂ thatÂ shouldÂ existÂ accordingÂ toÂ policyÂ makersÂ
Â
9.TheÂ ConsumerÂ PriceÂ IndexÂ (CPI)Â isÂ basedÂ onÂ
A.surveysÂ ofÂ retailÂ storeÂ salesÂ
B.aÂ broadÂ indexÂ ofÂ allÂ itemsÂ inÂ GDPÂ
C.surveysÂ ofÂ theÂ pricesÂ ofÂ itemsÂ inÂ aÂ marketÂ basketÂ
D.BureauÂ ofÂ LaborÂ StatisticsÂ estimatesÂ ofÂ priceÂ changesÂ
Â
10.UnanticipatedÂ inflationÂ isÂ aÂ problemÂ forÂ societyÂ becauseÂ itÂ
A.rewardsÂ lendersÂ atÂ theÂ expenseÂ ofÂ borrowersÂ
B.increasesÂ realÂ profitsÂ inÂ theÂ shortÂ termÂ
C.rewardsÂ saversÂ atÂ theÂ expenseÂ ofÂ spendersÂ
D.benefitsÂ borrowersÂ atÂ theÂ expenseÂ ofÂ lendersÂ
Â

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