This phase is characterized by slightly rising GDP but may be marked by high unemployment so there is still the danger it will fall.Select one:a. Contractionb. Recoveryc. Expansiond. Double Dip Recession
Question
This phase is characterized by slightly rising GDP but may be marked by high unemployment so there is still the danger it will fall.Select one:a. Contractionb. Recoveryc. Expansiond. Double Dip Recession
Solution
The phase described in the question is the Recovery phase. During this phase, the economy starts to turn around with GDP beginning to rise. However, it's a delicate phase because, despite the economic improvement, high unemployment rates may still persist and there's a risk the economy could fall back into contraction. So, the answer is b. Recovery.
Similar Questions
During this phase, output, incomes and employment numbers are going down.Select one:a. Double Dip Recessionb. Expansionc. Recoveryd. Contraction
During this phase, the economy just started to rise from recession then falls back into recession.Select one:a. Double Dip Recessionb. Recoveryc. Expansiond. Contraction
A headline states: "Real GDP falls again as the economy slumps." This condition is most likely to produce what type of unemployment?
During this phase, output and employment are rising and so is consumer spending.Select one:a. Double Dip Recessionb. Expansionc. Recoveryd. Contraction
A declining GDP and a rising unemployment rate are most likely indicators that an economy is in which phase of the business cycle?A.TroughB.PeakC.ExpansionD.Contraction
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.