Economics Study Guide Help?

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1. A dollar in the 1960's was worth as much as a dollar today in terms of how much can be purchased with it.
a. true
b. false

It is possible to accurately predict when changes will occur in the economy.
a. True
b. False

According to the business cycle, an expansion of the economy always follows (comes after) a peak or boom.
a. true
b. false

As price increases, purchasing power decreases.
a. True
b. False

5. Which former President of the U.S. came up with the term depression?
a. Herbert Hoover
b. Dwight Eisenhower
c. Warren Harding
d. Woodrow Wilson

6. Which United States President spoke about the Great Depression in 1937, during his Second Inaugural Address?
a. Calvin Coolidge
b. Harry Truman
c. Herbert Hoover
d. Franklin Roosevelt

7. What is a term that means a prolonged rise in the general price level of goods and services?
a. Recession
b. Inflation
c. Contraction
d. Expansion