ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Relatively high levels of unemployment
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Relatively low levels of unemployment
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Both High Unemployment and Recession
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Recessions
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Detailed explanation-1: -Which of the following is associated with peaks in the business cycle? Relatively high levels of unemployment.
Detailed explanation-2: -the turning point in the business cycle between an expansion and a contraction; during a peak in the business cycle, output has stopped increasing and begins to decrease.
Detailed explanation-3: -1. A peak is when business activity reaches a temporary maximum, unemployment is low, inflation high. 2. A recession is a decline in total output, unemployment rises and inflation falls.
Detailed explanation-4: -Characteristics of the Peak Stage The maximum possible growth is attained, and the economic growth indicators don’t grow further. The prices of products and services reach their peak. According to macroeconomists, the goal of the economy is to have a low unemployment rate.