1- The distinction between recession and depression is that recession are
A- longer than depression
B- more severe than depression
c- accompanied by a price increase, and depression by price decrease
d- shorter and less severe depression
e- accompanied by price decrease and depression by price increase

2- which of the following is not a phase in a typical business cycle?
a- expansion
b- contraction
c- peak
d- trough
e- depression

3- which of following is true about Us business cycle activity since 1933?
a- there has been only one business cycle in the last 30 years
b- there have been only 2 or 3 complete cycles
c- there have been recessions since 1979
d- expansions have generally lasted longer than contractions
e- each cycle has lasted longer than the previous one