1. Which of the following would be the correct order in which a typical business cycle flows?

A) Contraction, Expansion, Peak, Trough
B) Expansion, Contraction, Trough, Peak
C) Peak, Contraction, Trough, Expansion
D) Peak, Expansion, Contraction, Trough
E) Trough, Contraction, Expansion, Peak

2. A recession is announced by which organization?

A) National Bureau of Economic Research
B) National Council on Economic Data
C) Bureau of Labor Statistics
D) National Economics Committee
E) Federal Reserve Board

3. Many things run in cycles. The cycle(s) that will be important in this class is(are):

A) the business cycle.
B) the cycle of unemployoment.
C) the cycle of inflation.
D) the cycle of RGDP.
E) all of the above are correct.