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What business cycle will the economy most likely experience during rising real output and falling unemployment rates?
Expansion
Cyclical unemployment?
associated with the business cycle, like during recessions
Real GDP is rising at a 5% rate, unemployment is at 6% and falling, and inflation is rising at about 2% per year. Where in the business cycle is the economy?
expansion
During what part of a business cycle is there very little business activity and high unemployment?
trough
What type of unemployment caused changes in the business cycle?
Cyclical unemployment
What is a period of low economic activity and rising unemployment called?
If it's a short downturn or slowdown during a business cycle, it's a recession. If it's a longer, sustained and more severe downturn, it's a depression.
What is unemployment directly related to swings in the business cycle called?
Cyclical unemployment
Is cyclical unemployment the result of the business cycle?
Yes, cyclical unemployment is a result of the business cycle. It occurs when economic downturns lead to reduced demand for goods and services, causing businesses to cut back on production and lay off workers. Conversely, during periods of economic expansion, demand increases, potentially reducing cyclical unemployment as businesses hire more employees. This type of unemployment contrasts with structural or frictional unemployment, which are not directly linked to the business cycle.
Unemployment that is directly related to swings in the business cycle is:?
cyclical
What phase of the business cycle are the most people out of work?
The highest unemployment typically occurs during the recession phase of the business cycle. During this period, economic activity slows down, leading to decreased consumer demand, reduced business revenues, and subsequent layoffs. As companies struggle to maintain profitability, many are forced to cut jobs, resulting in increased unemployment rates.
What is cyclic unemployment?
This type of unemployment exists due to inadequate effective aggregate demand. It gets its name because it varies with the business cycle, though it can also be persistent, as during the Great Depression of the 1930s.
What is it called when business activity slows prices and wages drop and unemployment rises?
the business cycle
