Question

determine whether each of the following is best described as an example of inflation, recession, the business cycle, or the global economy.
a) business cycle c) recession
b) global economy d) inflation
28)________outsourcing jobs to locations with lower wages
29)________an alternating series of peaks and troughs
30)________goods and services becoming more expensive
31)________fewer goods and services being sold
32)________growth in the cpi
33)________countries depending on goods and services produced by other countries
34)________when the gdp declines

Explanation:

• 28: Outsourcing jobs to lower - wage locations is related to the global economy as it involves international economic activities.
• 29: An alternating series of peaks and troughs is the definition of the business cycle.
• 30: Goods and services becoming more expensive is inflation.
• 31: Fewer goods and services being sold can be a sign of a recession (a period of economic decline).
• 32: Growth in the CPI (Consumer Price Index) is a measure of inflation.
• 33: Countries depending on goods and services from other countries is part of the global economy.
• 34: When the GDP declines, it is often associated with a recession.

Answer:

1. B. global economy
2. A. business cycle
3. D. inflation
4. C. recession
5. D. inflation
6. B. global economy
7. C. recession