1. The three approaches to measuring economic activity are the (A) cost, income, and expenditure approaches. (B) product, income, and expenditure approaches. (C)consumer, business, and government approaches. (D) private, public, and international approaches.

5. The idea that the business cycle is recurrent means that (A) declines in economic activity tend to be followed by further declines, and growth in economic activity tends to be followed by more growth. (B) the standard pattern of contraction-trough-expansion-peak occurs again and again in industrial economies. (C)many economic variables to move together in a predictable way over the business cycle. (D) peaks and troughs of the business cycle occur at regular intervals.

1. The three approaches to measuring economic activity are the
(A) cost, income, and expenditure approaches.
(B) product, income, and expenditure approaches.
(C)consumer, business, and government approaches.
(D) private, public, and international approaches.

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