Answered: A mild period of falling incomes and…

A mild period of falling incomes and rising unemployment is called a: A. business cycle B. boom C. recession D. depression

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

A mild period of falling incomes and rising unemployment is called a:

		A. business cycle
		B. boom
		C. recession
		D. depression

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

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

How does the unemployment rate behave over the business cycle? The unemployment rate _______. A. remains relatively constant over the business cycle at an average of 5.7 percent B. equals 10 percent during a recession and falls to zero during an expansion C. rises during a recession and falls during an expansion D. equals 100 minus the employment-population ratio over the business cycle
If the labor force increases, but the number of people unemployed stays the same, what happens to the unemployment rate? A. Increases B. Decreases C. Stays the same
During recessions, output a. rises, and unemployment falls b. falls, and unemployment rises c. and unemployment both rise d. and unemployment both fall
What is likely to happen to unemployment rates when a country experiences an economic boom? A. Unemployment rates will increase. B. Unemployment rates will decrease. C. Unemployment rates will remain unchanged. D. Unemployment rates will initially decrease, then sharply increase.
3
The unemployment which is in excess of the NAIRU is called _____. A.seasonal unemployment B.frictional unemployment C.structural unemployment D.hidden unemployment E.cyclical unemployment
A relatively mild period of falling incomes and rising unemployment is called a(n)a. depression.b. recession.c. expansion.d. business cycle.
If the number of employed people equals 185 million, the number of unemployed people equals 15 million, and the number of people in the population aged 16 and older equals 210 million, then a. the unemployment rate equals 7.14% and the labor force participation rate equals 95.2%. a. the unemployment rate equals 7.23% and the labor force participation rate equals 85.7%. a. the unemployment rate equals 7.5% and the labor force participation rate equals 92.9%. a. the unemployment rate equals 7.7% and the labor force participation rate equals 92.9%. a. the unemployment rate equals 7.7% and the labor force participation rate equals 92.9%.
At a business cycle trough, cyclical unemployment is A. high; zero B. zero; low C. negative; positive D. positive; negative and at a business cycle peak, cyclical unemployment is
Which of the following statements is TRUE? a. the unemployment rate does not tell anything about the duration of unemployment. b. the duration of unemployment increases during economic expansions. c. the duration of unemployment decreases during recessions. d. both A and B are correct.
Suppose that the unemployment rate is equal to the natural rate of unemployment. Which of the following is true? a. The economy has a full employment. b. Cyclical unemployment is negative. c. Frictional unemployment becomes zero. d. The economy is in recession.
If some of unemployed individuals became discouraged workers, which of the following would result? a. The labor force would decrease and the unemployment rate would increase. b. The labor force would increase and the unemployment rate would decrease. c. The labor force would decrease and the unemployment rate would decrease. d. The labor force would decrease and the unemployment rate would remain the same. e. The labor force would increase and the unemployment rate would remain the same.