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1、Macroeconomics,5Ce(Williamson)Chapter3BusinessCycleMeasurement1)ThedefiningfeatureofbusinesscyclesisthattheyA)areinherentlybad.B)representtheunderlyingtrendofrealGDPintheeconomy.C)arefluctuationsabouttrendinrealGDP.D)measureprospectsforfuturegrowthintheeconomy.E)measurestandardsoflivingandproductivi
2、ty.Answer:CType:MCPageRef:59-612)ThedefiningfeatureofbusinesscyclesisthattheyareA)changesinthetrendcomponentofrealGDP.B)fluctuationsabouttrendinrealGDP.C)fluctuationsabouttrendintheunemploymentrate.D)fluctuationsabouttrendinthelevelofemployment.E)fluctuationsabouttrendinstandardsofliving.Answer:BTyp
3、e:MCPageRef:59-613)AbusinesscyclepeakisaA)smallpositivedeviationfromtrendinrealGDP.B)relativelylargepositivedeviationfromtrendinrealGDP.C)smallnegativedeviationfromtrendinrealGDP.D)relativelylargenegativedeviationfromtrendinrealGDP.E)minimumdeviationfromtrendinrealGDP.Answer:BType:MCPageRef:59-614)A
4、businesscycletroughisaA)smallpositivedeviationfromtrendinrealGDP.B)relativelylargepositivedeviationfromtrendinrealGDP.C)smallnegativedeviationfromtrendinrealGDP.D)relativelylargenegativedeviationfromtrendinrealGDP.E)minimumdeviationfromtrendinrealGDP.Answer:DType:MCPageRef:59-615)Amplitudeofthebusin
5、esscycleisA)theamountofvolatilityinthebusinessduringoneyear.B)thesizeoftheminimumdeviationfromtrend.C)wheretheturningpointsofthebusinesscycleoccur.D)thesizeofthemaximumdeviationfromtrend.E)theamountofemploymentandrealGDPchangesduringoneyear.Answer:BType:MCPageRef:59-613-13Copyright©2018PearsonCanada
6、Inc.6)InCanada,threeimportantrecessionsoccurredbetweenA)1944-1946,1951-1952,and1962-1964.B)1978-1979,1984-1985,and1988-1989.C)1974-1975,1981-1982,and1990-1992.D)1981-1982,1996-1997,and2003-2004.E)1987-1988,1994-1995,and2002-2003.Answer:CType:MCPageRef:59-617)Before2000,thethreemostrecentCanadianrece
7、ssionsoccurredinA)1969-1973,1979-1982,and1994-1995.B)1973-1975,1982-1985,and1990-1991.C)1974-1975,1981-1982,and1990-1992.D)1981-1982,1990-1991,and1998-1999.E)1944-1945,1955-1956,and1990-1992.Answer:CT
