A Graph of a Business Cycle That Plots Output on the Vertical

question 9

Multiple Choice

A graph of a business cycle that plots output on the vertical axis and quarters of the year on the horizontal axis is an example of a

• A) bar chart.
• B) pie chart.
• C) scatter plot.
• D) time series.

---

Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period, typically measured by the rise in real GDP.

Productivity

The efficiency with which goods and services are produced, typically measured in terms of output per labor hour.

Living Standards

Refers to the level of wealth, comfort, material goods available to a person, group, or nation, similar to the standard of living.

Human Capital

The collective skills, knowledge, and other intangible assets of individuals that can be used to create economic value.