Table 5-1 Shows Data on Real GDP and Employment for a Particular

question 137

Multiple Choice

Table 5-1 shows data on real GDP and employment for a particular country from the year 1991 to 2000. Use the table to answer questions .
Table 5-1

-Refer to Table 5-1. The trough(s) in economic activity occurred:

• A) once in the ten-year period, in 1996.
• B) twice in the ten-year period, in 1996 and in 2000.
• C) once in the ten-year period, in 1991.
• D) thrice in the ten-year period, in 1991, in 1996, and in 2000.

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Definitions:

Demand Curve

A graph representing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

Supply Curve

A graph that shows the relationship between the price of a good and the quantity of that good that producers are willing to supply.

Y Axis

The vertical line on a graph or chart, which typically represents the range of values for a variable being measured.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell, typically sloping upward.