The Business Cycle: Economic Performance Over Time


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question 1 of 3

According to this chart, what was the unemployment rate during the peak of the business cycle?

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1. What happens to real GDP, prices and unemployment at the peak of a business cycle?

2. What happens to economic output as measured by GDP during a recession?

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About This Quiz & Worksheet

This quiz and worksheet can help you check your knowledge of stages in the economic business cycle. You will be quizzed on peaks and recessions in the business cycle.

Quiz & Worksheet Goals

This quiz/worksheet combo helps you assess how well you can identify:

  • The peak of a business cycle
  • What happens during recessions
  • The unemployment rate on a graph
  • The turning points and phases in the economic business cycle

Skills Practiced

Use this worksheet and quiz to test the following skills:

  • Critical thinking - apply relevant concepts to examine information regarding the business cycle in a different light
  • Information recall - access the knowledge you have gained regarding recessions
  • Knowledge application - use your knowledge to answer questions about a graph of the unemployment rate

Additional Learning

To learn more about the business cycle, review the accompanying lesson titled The Business Cycle: Economic Performance Over Time. This lesson will help you:

  • Define the business cycle
  • Identify how a recession can happen
  • Determine characteristics of a peak in the business cycle
  • Review factors that influence Real GDP