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    ECO 203 Week 2 Quiz

    This document of ECO 203 Week 2 Quiz shows the solutions to the following problems:

    1. The term “recession” refers to a

    2. Who is NOT a loser in inflation?

    3. The transfer of funds from savers to business investors takes place in the

    4. If taxes increase and the AS curve is upward sloping, then

    5. The turning points of the business cycle are called

    6. As an economy recovers from a trough in the business cycle,

    7. Short-term unemployment while searching for a new job is called

    8. Economists use the phrase “business cycle” when discussing

    9. In the circular flow model, how can households use their income?

    10. The curve that shows quantities of total real output that will be offered for sale at various price levels is called the.

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