Question 1

Which of the following is NOT a component of the Index of Leading Economic Indicators?

Accepted Answer

A) Stock market prices 
B) An index of consumer expectations 
C) New building permits granted 
D) Real money supply 
E) None of the abovE.All are part of the index 
A) Stock market prices 
B) An index of consumer expectations 
C) New building permits granted 
D) Real money supply 
E) None of the abovE.All are part of the index

Question 2

During the past three decades,the U.S.economy experienced significant periods of growth without interruption.

Accepted Answer

A) True 
 B)False

Question 3

U.S.economic growth rates in the 1990s have been higher than those experienced in the 1960s.

Accepted Answer

A) True 
 B)False

Question 4

The economic growth of an economy is generally measured by examining changes in

Accepted Answer

A) Employment 
B) Real GDP 
C) Income 
D) Government revenues 
E) Current GDP 
A) Employment 
B) Real GDP 
C) Income 
D) Government revenues 
E) Current GDP

Question 5

Which of the following is NOT true about business cycles?

Accepted Answer

A) All business cycles have four distinct phases 
B) The average length of a U.S.business cycle is about 60 months 
C) Since 1960,the U.S.has experienced six complete business cycles 
D) The last economic depression in the U.S.occurred in the 1930s 
E) The turning points of a business cycle can be easily predicted 
A) All business cycles have four distinct phases 
B) The average length of a U.S.business cycle is about 60 months 
C) Since 1960,the U.S.has experienced six complete business cycles 
D) The last economic depression in the U.S.occurred in the 1930s 
E) The turning points of a business cycle can be easily predicted

Question 6

The decline that occurred in real GDP in the fourth quarter of 2008 was ________ .

Accepted Answer

A) The smallest decrease on record 
B) The average reduction 
C) Smaller than the decrease in the third quarter 
D) The largest in over 50 years 
E) There was no decline in real GDP during 2008 
A) The smallest decrease on record 
B) The average reduction 
C) Smaller than the decrease in the third quarter 
D) The largest in over 50 years 
E) There was no decline in real GDP during 2008

Question 7

Government policies that subsidize higher education should stimulate labor productivity and enhance long-run economic growth.

Accepted Answer

A) True 
 B)False

Question 8

The first decade of the 21st century has been characterized by ______.

Accepted Answer

A) A booming economy through the period 
B) A recession at the start of the decade,followed by a slow recovery and then a second recession 
C) Stagflation 
D) One recession followed by an unprecedented economic boom 
E) None of the above 
A) A booming economy through the period 
B) A recession at the start of the decade,followed by a slow recovery and then a second recession 
C) Stagflation 
D) One recession followed by an unprecedented economic boom 
E) None of the above

Question 9

In the U.S.,the official dates for each phase of a business cycle are determined after the fact by the National Bureau of Economic Research (NBER).

Accepted Answer

A) True 
 B)False

Question 10

The Following Questions Refer to the graph below.  
-An economy's production possibilities curve will shift out the farthest in 2017 if it chooses to operate at which point in 2012?

Accepted Answer

A) A 
B) B 
C) C 
D) F 
E) E 
A) A 
B) B 
C) C 
D) F 
E) E

Question 11

The increasing importance of the service sector in the American economy may lead to an overestimation of economic growth.

Accepted Answer

A) True 
 B)False

Question 12

How has the increasing importance of the U.S.service sector contributed to the slowdown in economic growth?

Accepted Answer

A) Services are less important to the economy than goods 
B) The productivity of the service sector is hard to accurately measure 
C) Most investment takes place in the goods producing sector of the economy 
D) Services cannot be easily exported to foreign nations 
E) Technological advances have had a smaller impact on the service sector 
A) Services are less important to the economy than goods 
B) The productivity of the service sector is hard to accurately measure 
C) Most investment takes place in the goods producing sector of the economy 
D) Services cannot be easily exported to foreign nations 
E) Technological advances have had a smaller impact on the service sector

Question 13

One strategy to promote economic growth is to encourage people to save morE.

Accepted Answer

A) True 
 B)False

Question 14

The Following Questions Refer to the graph below.  
-Economic growth is represented on the graph as a movement from

Accepted Answer

A) BF to AG 
B) AG to BF 
C) D to C 
D) C to D 
E) D to E 
A) BF to AG 
B) AG to BF 
C) D to C 
D) C to D 
E) D to E

Question 15

Some forms of government regulation of business may reduce productivity and th

Accepted Answer

A) True 
 B)False

Question 16

Since WWII,the average length of a typical U.S.business cycle is approximately 60 months.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following decades had the highest average annual rate of economic growth in the U.S.?

Accepted Answer

A) 1930s 
B) 1960s 
C) 1970s 
D) 1980s 
E) 1990s 
A) 1930s 
B) 1960s 
C) 1970s 
D) 1980s 
E) 1990s

Question 18

Which of the following is not a phase of every business cycle?

Accepted Answer

A) Trough 
B) Expansion 
C) Contraction 
D) Depressions 
E) Peak 
A) Trough 
B) Expansion 
C) Contraction 
D) Depressions 
E) Peak

Question 19

Monetary theories of business cycles are based on how the Federal Reserve manages the money supply in response to changing economic conditions.

Accepted Answer

A) True 
 B)False

Question 20

The longest sustained period of economic growth in modern U.S.history occurred during the

Accepted Answer

A) 1920s 
B) 1950s 
C) 1960s 
D) 1980s 
E) 1990s 
A) 1920s 
B) 1950s 
C) 1960s 
D) 1980s 
E) 1990s

Which of the following is NOT a component of the Index of Leading Economic Indicators?

During the past three decades,the U.S.economy experienced significant periods of growth without interruption.

U.S.economic growth rates in the 1990s have been higher than those experienced in the 1960s.

The economic growth of an economy is generally measured by examining changes in

Which of the following is NOT true about business cycles?

The decline that occurred in real GDP in the fourth quarter of 2008 was ________ .

Government policies that subsidize higher education should stimulate labor productivity and enhance long-run economic growth.

The first decade of the 21^st century has been characterized by ______.

In the U.S.,the official dates for each phase of a business cycle are determined after the fact by the National Bureau of Economic Research (NBER).

The Following Questions Refer to the graph below. -An economy's production possibilities curve will shift out the farthest in 2017 if it chooses to operate at which point in 2012?

The increasing importance of the service sector in the American economy may lead to an overestimation of economic growth.

How has the increasing importance of the U.S.service sector contributed to the slowdown in economic growth?

One strategy to promote economic growth is to encourage people to save morE.

The Following Questions Refer to the graph below. -Economic growth is represented on the graph as a movement from

Some forms of government regulation of business may reduce productivity and th

Since WWII,the average length of a typical U.S.business cycle is approximately 60 months.

Which of the following decades had the highest average annual rate of economic growth in the U.S.?

Which of the following is not a phase of every business cycle?

Monetary theories of business cycles are based on how the Federal Reserve manages the money supply in response to changing economic conditions.

The longest sustained period of economic growth in modern U.S.history occurred during the

Alleviating Human Misery: The Role of Economic Reasoning

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Pollution Problems: Must We Foul Our Own Nests

Economics of Crime and Its Prevention: How Much Is Too Much

The Economics of Education: Crisis and Reform

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

Filters

Exam 11: Economic Growth: Why Is the Economic Road so Bumpy

Which of the following is NOT a component of the Index of Leading Economic Indicators?

During the past three decades,the U.S.economy experienced significant periods of growth without interruption.

U.S.economic growth rates in the 1990s have been higher than those experienced in the 1960s.

The economic growth of an economy is generally measured by examining changes in

Which of the following is NOT true about business cycles?

The decline that occurred in real GDP in the fourth quarter of 2008 was ________ .

Government policies that subsidize higher education should stimulate labor productivity and enhance long-run economic growth.

The first decade of the 21st century has been characterized by ______.

In the U.S.,the official dates for each phase of a business cycle are determined after the fact by the National Bureau of Economic Research (NBER).

The Following Questions Refer to the graph below. -An economy's production possibilities curve will shift out the farthest in 2017 if it chooses to operate at which point in 2012?

The increasing importance of the service sector in the American economy may lead to an overestimation of economic growth.

How has the increasing importance of the U.S.service sector contributed to the slowdown in economic growth?

One strategy to promote economic growth is to encourage people to save morE.

The Following Questions Refer to the graph below. -Economic growth is represented on the graph as a movement from

Some forms of government regulation of business may reduce productivity and th

Since WWII,the average length of a typical U.S.business cycle is approximately 60 months.

Which of the following decades had the highest average annual rate of economic growth in the U.S.?

Which of the following is not a phase of every business cycle?

Monetary theories of business cycles are based on how the Federal Reserve manages the money supply in response to changing economic conditions.

The longest sustained period of economic growth in modern U.S.history occurred during the

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

Pollution Problems: Must We Foul Our Own Nests

Economics of Crime and Its Prevention: How Much Is Too Much

The Economics of Education: Crisis and Reform

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

Filters

The first decade of the 21^st century has been characterized by ______.