A. inflation

B. the money supply

C. aggregate economic activity

D. the unemployment rate

A. expansion.

B. boom.

C. trough.

D. peak.

A. an expansion.

B. a contraction.

C. a peak.

D. a turning point.

A. Unemployment is likely to fall

B. Prices are likely to fall

C. Demand is likely to fall

D. Imports are likely to fall

A. volatility.

B. turning points.

C. equilibrium points.

D. real business cycle events.

A. a contraction.

B. an expansion.

C. a trough.

D. a turning point.

A. durable goods and service sectors.

B. nondurable goods and service sectors.

C. capital goods and nondurable goods sectors.

D. capital goods and durable goods sectors.

A. unexpected government actions that affect the economy.

B. typically, unpredictable forces that have major impacts on the economy.

C. sudden rises in oil prices.

D. the business cycles.

A. business cycles and trends in the stock market.

B. long-run economic growth and antitrust policies.

C. trends in the stock market and long-term economic growth.

D. long-run economic growth and business cycles.

A. the Great Depression and stagflation.

B. World War II and the Great Depression.

C. the productivity slowdown and the Great Depression.

D. government budget deficits and World War II.