Question

namematch the business term with its definitionterms : peak, lagging indicator, business cycle, trough, leading indicator,recession, expansion, unemployment, gross domestic product (gdp), inflation1. ________________ an increase in an economys general price level over aperiod of time, reduces the value of money2. ______________ economic data published after an economic event andused to confirm economic trends.3. ______________ is the highest point on a business cycle.4. ______________ a period of economic growth, when an economys realgross domestic product increases.5. ______________ the market value of all the final goods and servicesproduced within a country in a given period of time (usually a year).6. ______________ measurable variables in an economy that normallychange before the rest of the economy.7. ______________ a period of economic contraction, when an economysreal gross domestic product decreases.8. ______________ the upward and downward movements of economicactivity over a period of time.9. ______________ is the lowest point on a business cycle.10. ______________ occurs when a person wanting to work is unable tofind a job.choose all that apply choose all that apply11. ________________ what are the goals of an economy? choose all that applya. george washingtonb. promote long term growthc. change an economys output.d. prevent unemploymente. limit inflation

Explanation:

1. Inflation is defined as a sustained rise in an economy's general price level that erodes money's purchasing power.
2. Lagging indicators are economic data released after an event, used to confirm existing trends.
3. Peak refers to the highest point of economic activity in a business cycle before contraction begins.
4. Expansion is the phase of the business cycle where real GDP and economic growth increase.
5. GDP measures the total market value of all final domestic goods/services produced annually.
6. Leading indicators are variables that shift before overall economic changes, signaling future trends.
7. Recession is the phase where real GDP contracts, indicating economic decline.
8. The business cycle describes the recurring upward/downward shifts in overall economic activity.
9. Trough is the lowest point of a business cycle, marking the end of contraction before recovery.
10. Unemployment is the state where willing, able workers cannot secure employment.
11. Core macroeconomic goals include fostering long-term growth, minimizing unemployment, and keeping inflation stable to support economic stability and prosperity.

Answer:

1. Inflation
2. Lagging Indicator
3. Peak
4. Expansion
5. Gross Domestic Product (GDP)
6. Leading Indicator
7. Recession
8. Business Cycle
9. Trough
10. Unemployment
11. B. Promote Long Term Growth, D. Prevent Unemployment, E. Limit Inflation