MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 6, Problem 4SQ
To determine
The points of expansion of a business cycle.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Macmillan Learning
©
The graph charts the business cycle for a hypothetical economy over time. Use the terms to label all six points on the graph.
GDP
Time
contraction
Answer Bank
peak
expansion
4
trough
The movements in the production of motor vehicles and RVs
experience large fluctuations during the business cycle.
experience small fluctuations during the business cycle.
experience no fluctuations during the business cycle.
are immune to changes in the business cycle.
The following graph approximates business cycles in the United States from the first quarter of 1955 to the third quarter of 1959. The vertical blue bar coincides with a period of six or more months of declining real gross domestic product (real GDP).
Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of increasing real GDP is known as a __________ (options: bust, business cycle, boom).
Chapter 6 Solutions
MACROECONOMICS FOR TODAY
Ch. 6.4 - Prob. 1YTECh. 6.4 - Prob. 2YTECh. 6.4 - Prob. 3YTECh. 6.5 - Prob. 1YTECh. 6 - Prob. 1SQPCh. 6 - Prob. 2SQPCh. 6 - Prob. 3SQPCh. 6 - Prob. 4SQPCh. 6 - Prob. 5SQPCh. 6 - Prob. 6SQP
Ch. 6 - Prob. 7SQPCh. 6 - Prob. 8SQPCh. 6 - Prob. 9SQPCh. 6 - Prob. 10SQPCh. 6 - Prob. 11SQPCh. 6 - Prob. 1SQCh. 6 - Prob. 2SQCh. 6 - Prob. 3SQCh. 6 - Prob. 4SQCh. 6 - Prob. 5SQCh. 6 - Prob. 6SQCh. 6 - Prob. 7SQCh. 6 - Prob. 8SQCh. 6 - Prob. 9SQCh. 6 - Prob. 10SQCh. 6 - Prob. 11SQCh. 6 - Prob. 12SQCh. 6 - Prob. 13SQCh. 6 - Prob. 14SQCh. 6 - Prob. 15SQCh. 6 - Prob. 16SQCh. 6 - Prob. 17SQCh. 6 - Prob. 18SQCh. 6 - Prob. 19SQCh. 6 - Prob. 20SQ
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- Draw the business cycle diagram correctly labeling the axes, expansion, peak, contraction, and trough.arrow_forwardOn a business cycle diagram, the trough represents: a. An expansionary phase b. A contractionary phase c. The lowest point of economic activity d. The highest point of growtharrow_forwardLabel the graph in Figure 1 with all of the parts of the business cycle.arrow_forward
- Identify the phase of the Business Cycle Year Real GDP in Billions GDP Growth Rate Phase of the Business Cycle 1 5,839 -2 5,987 2.5 3 5,870 -2 4 6,136 4.3 :: Expansion :: Expansion & Peak :: Contraction :: Contraction & Trough 00arrow_forwardFigure: The Business Cycle Real GDP A B B) a trough. C) an expansion. D) a recession. Years 34. (Figure: The Business Cycle) Point B on this graph shows A) a peak.arrow_forwardANNUAL CHANGE IN REAL GDP (Percent) , دن A -5 1981 1982 Peak Recovery 1983 Expansion 1984 Trough 1985 YEAR This economy experienced a contraction in the year period in which the level of Real GDP contraction is seen as a period in which the growth rate of Real GDP 1986 1987 1988 In 1988, which of the following phases in the business cycle could this economy have been experiencing? Check all that apply. Annual Change . On the first graph (showing Real GDP), this contraction is seen as a On the second graph (showing annual change in Real GDP), thisarrow_forward
- Examine the fundamental causes of a nation’s business cycle fluctuations. Examine the relationship between total spending by government and consumers in a nation and the location of the countries’ GDP on the business cycle.arrow_forwardWhat is a business cycle? Explain the four elements of a business cycle and what happens to economic activities and conditions during each element. In your explanation, be sure to touch on the concept of a recession. Use a graph to show the different elements.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning