ECN 204 Study Guide - Unemployment, Frictional Unemployment, Potential Output

Irregular fluctuations in economic activity are known as the ___________.

a. business cycle
b. broken window fallacy
c. the trade-off between inflation and unemployment
d. ten principles of economics

Analyze the business cycle, or recurring fluctuations in the level of economic activity. Be sure to provide citations for any sources used.

What are the determinants of aggregate demand?

Examine changes in aggregate demand and aggregate supply, using the data from Step 1 and Step 2.

How do these changes affect the business cycle?

Fluctuations in a nation's economy are referred to as its
1) economic upheaval.
2) the inflation problem.
3) the depression cycle.
4) business cycle.
5) recession period.