What is the definition of Annual Percentage Rate (APR) Question 6 options:

Refers to the rate you get paid

Your interest charged on your pay check

Refers to the grades you make in school and how it will matter in the future

Refers to the annual rate of interest charged to borrowers and paid to investors.

What is opportunity cost?

Question 7 options:

When you take a financial risk and get a reward.

Refers to what a person gives up when a decision is made. This cost, also called a trade-off, may involve one or more of your resources (time, money, and effort).

Refers to a friend giving you money and you pay them back whenever you have a chance

When someone thinks they can take advantage of you.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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