答案和详解如下: Q1. The expansion phase of a business cycle is least likely characterized by: A) increasing unemployment. B) increasing inflationary pressures. C) a positive rate of economic growth. Correct answer is A) Unemployment is typically decreasing during the expansion phase of a business cycle. Q2. During an economic contraction: A) the unemployment rate typically decreases. B) real GDP growth is greater than its sustainable long-term rate. C) inflationary pressures are typically decreasing. Correct answer is C) An economic contraction (recession) is typically characterized by decreasing inflationary pressures, increasing unemployment, and low or negative real GDP growth. |