ECO 203 Week 2 Quiz

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ECO 203 Week 2 Quiz

1. The government component of GDP includes government expenditures on

2. Which of the following rise(s) during a recession and fall(s) during the expansionary phase of the business cycle?

3. The aggregate supply curve

4. If aggregate demand increases and the aggregate supply curve is upward sloping and unchanged

5. A very important fact about national income accounting is that

6. The labor force is composed of

7. Policies to reduce fluctuations in output and employment are called

8. The presence of discouraged workers may cause

9. The term “recession” refers to a

10. The transfer of funds from savers to business investors takes place in the