Exam 8: Business Cycles

Comovement is

The tendency of many economic variables to move together in a predictable way over the business cycle is called

A variable that tends to move in advance of aggregate economic activity is called

The job finding rate

The low point in the business cycle is referred to as the

Use the NBER data in Table 8.1 in the textbook on U.S.business cycle turning points to calculate: a)the shortest business cycle from peak to peak; b)the shortest business cycle from trough to trough; c)the longest business cycle from peak to peak; and d)the longest business cycle from trough to trough.

A variable that tends to move at the same time as aggregate economic activity is called

Peaks and troughs of the business cycle are known collectively as

The tendency of many different economic variables to have regular and predictable patterns over the business cycle is called

Lagging variables are aggregate economic variables that

The tendency for declines in economic activity to be followed by further declines,and for growth in economic activity to be followed by more growth is called

In the short run,an increase in export sales would cause output to ________ and the price level to ________.

The deep recession of 1973-1975 was mainly caused by

Which of the following macroeconomic variables is acyclical?

What are the two main components of business cycle theories?

Real interest rates are

The recession of 2001 began in ________ and ended in ________.

The long boom occurred in the

When plotted with the aggregate price level on the vertical axis and output on the horizontal axis,which of the following curves is vertical?

The dates of turning points are determined by a committee from the