Introduction to Business

Section 2: The Business Cycle

Self-Checks

1
The United States economy is shaped by a mixture of public and ______ forces.
A)governmental
B)personal
C)private
D)civic
2
The government agency that guides the U.S. economy is the ______ .
A)Central Bank
B)Internal Revenue Service
C)Federal Reserve
D)Economic Department
3
The rise and fall of economic activity over time is called the ______ .
A)business cycle
B)fiscal trend
C)economic pattern
D)market sequence
4
A peak of economic activity is called ______ .
A)inflation
B)prosperity
C)growth
D)wealth
5
Economic activity slows down during a ______ .
A)depression
B)regression
C)recession
D)secession
6
When a downturn in one industry causes a downturn in another industry, it is called a ______ effect.
A)correlated
B)recessive
C)lateral
D)ripple
7
A deep slow down in economic activity that affects the entire economy and lasts for several years is called a ______ .
A)depression
B)regression
C)recession
D)secession
8
The Great Depression began in ______ .
A)1908
B)1929
C)1911
D)1933
9
During the worst years of the Great Depression percent of workers were ______ jobless.
A)15
B)40
C)25
D)50
10
A rise in business activity after a recession or depression is called ______ .
A)ascension
B)recovery
C)inflation
D)restitution
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