Recovery, peak, trough, economic growth, GDP, business cycle, recession

1) Recurrent rises and falls in real GDP over a period of years is called the ___________.

2) A ________ is officially defined as two consecutive quarters of real GDP decline.

3) _________ is the increase of per capita GDP: it is measured by the annual percentage change in real GDP in a nation.

4) _________ of a country is defined as the total market value of all final goods and services produced within a country in a given period of time.

5) The phase of the business cycle during which real GDP reaches its maximum after rising during a recovery is called a ________.

6) A _______ is a phase of the business cycle during which real GDP reaches its minimum after falling during a recession.

7) An upturn in the business cycle during which real GDP rises is called a ________.

3. Complete the statements choosing the right option.

1) The _______ phase of the business cycle follows a recession.

a. recovery

b. contraction

c. peak

d. trough

2) The upper turning point of a business cycle is a _________ .

a. boom

b. trough

c. peak

d. expansion

3) A recession is a business contraction lasting at least________ .

a. one years

b. six months

c. three months

d. one month

4) A serious, long-lasting recession is called a ________ .

a. boom

b. depression

c. growth

d. contraction

5) Technological advances, natural disasters, elections are _______ factors causing the business cycle.

a. internal

b. endogenous

c. exogenous

d. demographic

4. Answer the questions on the text.

1) What is the business cycle?

2) What phases of the business cycle are generally identified?

3) What economic indicators are taken into account when estimating the phase of the business cycle?

4) What theories of the business cycle does the text review?

5) How do internal theories view the business cycle?

6) What factors are considered important in external theories?

7) Which of the various theories of the business cycle mentioned in the text do you find the most convincing?

<== попередня сторінка	\|	наступна сторінка ==>
The Business Cycle	\|	DEVELOPING VOCABULARY

Не знайшли потрібну інформацію? Скористайтесь пошуком google:

Генерація сторінки за: 0.004 сек.