Question 1:

https://www.youtube.com/watch?v=TXrOpjG4dUs&t=296s

Watchthis videoand then answer the multiple-choice question.

What is the one word that best describes the part of the business cycle that starts to decline (i.e., when it starts to turn downward)?

A. unrest

B. denial

C. desperation

D. anxiety

E. fear

Question 2:

This question tests your knowledge of what activities are included in calculating 2023 GDP. Decide if this item is part of GDP and, if so, to which expenditure category it belongs.

Purchase of house in 2023 (the house was built in 1978):

A. Not counted in GDP

B. Counted as part of taxes

C. Counted as part of consumption

D. Counted as part of investment

Question 3:

Hyperinflation is an inflation rate in excess of_________ annually.

A. 10%

B. 100%

C. 150%

D. 200%

Question 4:

The labor force includes:

A. only the employed

B. only the unemployed

C. all citizens over the age of 16 years

D. the employed and unemployed

E. only those who are actively looking for work