Economic Indicators Test Questions and Answers 100% Solved

Economic Indicators Test Questions and Answers 100% Solved Recession ✔️✔️six straight months of economic contraction, where there is falling real GDP and increasing unemployment trough ✔️✔️The lowest point in a business cycle CPI - consumer price index ✔️✔️measures inflation by comparing the average of prices of a basket of consumer goods and services. Inflation ✔️✔️A rise in the general level of prices Unemployment rate ✔️✔️the percentage of the labor force that is unemployed Peak ✔️✔️The highest point in a business cycle Aggregate Demand ✔️✔️total demand for goods and services in an economy (C+I+G+Xn) GDP - Gross Domestic Product ✔️✔️the total market value of all final goods and services produced annually in an economy Economic Expansion ✔️✔️The part of the business cycle where GDP and employment are rising. economic contraction ✔️✔️a slowdown of the economy characterized by a decline in spending and during which businesses cut back on production and lay off workers.