2025年度 慶應義塾大学 商学部 Ⅷ 解答

【解答】

 [出典:a book by Jeremy B. Rudd]

(a) attend → attention

(b) expand → expansions

(c) announce → announcement

(d) consume → consumption

(e) define → definition


(Measures of the level of real economic activity have two primary characteristics.  Over time they trend upward, but on occasion they swing noticeably, declining before eventually recovering and then continuing more or less along an upward march.  These fluctuations are called business cycles, and they have occupied the time and (a)attention of economists since the early nineteenth-century.  In the United States, the identification of its recurring business cycle peaks and valleys - that is, its many (b)expansions and recessions - is handled by the National Bureau of Economic Research (NBER), where a sub-committee studies monthly indicators of real activity in order to identify turning points in the series.  Because this sub-committee waits until such turning points are clearly discernible, the public (c)announcement of these dates typically comes well after a turning point is reached.  The indicators currently used by the NBER to identify the dates of business cycles include real personal (d)consumption, total industrial production, real wholesale and retail trade sales, and two measures of employment.  The rationale of using multiple indicators reflects the NBER's (e)definition of a recession, which is a significant downturn in real activity that is spread throughout the entire economy.)

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