Learn Before
Refugee Stressors
The Volatility of 'Hockey Stick' Economic Growth
Economic Fluctuations (Business Cycles)
The business cycle describes the alternating periods of faster and slower, or even negative, growth rates that characterize an economy. This cyclical movement involves the economy shifting from a boom to a recession and back again. Typically, recessions defined by negative growth occur with a frequency of about twice every decade.
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Economics
Economy
Introduction to Macroeconomics Course
Ch.3 Aggregate demand and the multiplier model - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
CORE Econ
Social Science
Empirical Science
Science
Ch.5 Macroeconomic policy: Inflation and unemployment - The Economy 2.0 Macroeconomics @ CORE Econ
Introduction to Microeconomics Course
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Refugees Experience Emotional Distress
William Nordhaus
Cowles Foundation for Research in Economics
Allocation as Income in the Angela-Bruno Model
Mathematical Analysis of Preferences
General Model of a Firm with Cost and Demand Functions
Arthur Pigou (1877–1959)
Michał Kalecki
Economic Fluctuations (Business Cycles)
Economic Preferences
Robert Shiller
Opportunity Cost
Welfare Economics
Interpreting UK and Japan's Real GDP Growth (1875-2023) using Linear and Ratio Scales
Economic Fluctuations (Business Cycles)
An economic historian presents a graph of a country's average income per person over the last 500 years. The graph shows a long, flat period followed by a sharp, steep increase in the most recent 150 years. Based on the typical pattern of economic development, which of the following statements most accurately describes what a detailed view of the last 150 years would likely show?
Interpreting Economic Growth Patterns
Evaluating an Economic Historian's Conclusion
A country's long-term economic growth path, which shows a dramatic increase in average income over the last two centuries, implies that each successive year during this period saw a higher average income than the preceding year.
An economist is analyzing a graph showing a country's average income per person over the last 200 years. The graph displays a dramatic and sustained increase, particularly over the most recent 50 years. Based on this long-term trend, the economist concludes, "The last 50 years represent a period of uninterrupted economic expansion." Which of the following statements provides the most accurate critique of this conclusion?
Critiquing Simplified Economic Growth Models
An economic model shows a country's average income following a strong, positive, long-term growth trend over a 75-year period. If you were to examine the detailed year-by-year data for any single five-year segment within this timeframe, which of the following patterns would you most likely observe?
A country's long-term economic growth path, when viewed year-by-year, shows significant fluctuations around its general upward trend. Match each historical event to its most likely short-term impact on this year-to-year growth path.
Evaluating an Investment Strategy
Analyzing a Statement on Economic Growth
An economic historian presents four stylized charts, each depicting a country's average income over the last 300 years. All four charts show a long period of near-stagnation followed by a period of rapid, sustained growth. Which of the following descriptions best represents the typical historical experience of a country that has undergone this transformation?
Interpreting Economic Growth Data
Critiquing a Simplified Economic Model
The 'hockey stick' representation of long-term economic growth accurately illustrates that once an economy begins its period of rapid development, its average income increases consistently year after year without significant setbacks.
A country's economic output over a long period can be described by both its overall trajectory and the shorter-term movements within that path. Match each economic term to the description that best fits its role in this long-term growth story.
The Nuances of Long-Term Economic Growth
Evaluating a Statement on Economic Growth
An economist creates a graph showing a country's average income over the last 500 years. The graph shows a long, flat period for the first 400 years, followed by a sharp, sustained upward trend for the last 100 years. If the economist were to create a new, more detailed graph focusing only on the last 100 years of rapid growth, which of the following patterns would they most likely observe?
The 'hockey stick' model of economic history shows a long period of stagnation followed by a sharp, sustained increase in average incomes. However, the period of sustained growth is not a smooth, uninterrupted line. The statements below describe different phases within this growth period for a hypothetical country. Arrange them in a plausible chronological order to represent a typical economic cycle.
Analyzing a Political Claim about Economic History
Economic Volatility
Learn After
Recession
Economic Boom
Historical Examples of Severe Economic Downturns
Correlation between the Business Cycle and Unemployment Rate
Investigating the Drivers of Economic Fluctuations
Integration of Supply-Side and Demand-Side Models
The Great Moderation: Post-WWII Economic Stability
An economy observes the following trends over several consecutive months: the total production of goods and services decreases, the rate of joblessness rises, and average household incomes fall. Based on the typical pattern of cyclical economic movements, what do these simultaneous trends most strongly suggest?
Arrange the following four phases of an economic cycle into a logical sequence, starting from the point of maximum economic output.
Analyzing a Country's Economic Performance
The term 'business cycle' accurately describes the pattern where an economy's growth rate fluctuates, slowing down during certain periods but always remaining positive.
Economic Cycle Transitions
Evaluating Claims of Economic Stability
Match each phase of an economic cycle with its corresponding description of economic activity.
Differentiating Economic Slowdown from Contraction
An economy has just experienced a period where its total output reached a maximum level after several years of steady increases. In the months that followed, growth began to slow, and the unemployment rate, which had been falling, started to level off and then slowly rise. Which phase of the economic cycle has this economy most likely just passed through?
The recurring, cyclical pattern of an economy shifting between periods of growth and periods of decline is commonly referred to as the ____.