Understanding the Business Cycle

Understanding the Business Cycle

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

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33 questions

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1.

FLASHCARD QUESTION

Front

What is the first stage of the business cycle?

Back

Economic expansion

2.

FLASHCARD QUESTION

Front

What happens during an economic expansion?

Back

More goods and services are produced

3.

FLASHCARD QUESTION

Front

What is the point just before the downward movement begins in the business cycle?

Back

Peak

4.

FLASHCARD QUESTION

Front

What is economic contraction?

Back

A period when economic output declines.

5.

FLASHCARD QUESTION

Front

What can happen during a recession?

Back

Long-lasting effects on individuals

6.

FLASHCARD QUESTION

Front

How does the National Bureau of Economic Research (NBER) define a recession?

Back

A significant decline in economic activity that lasts more than a few months

7.

FLASHCARD QUESTION

Front

What are some possible causes of recessions? Positive economic shocks, Stable monetary policies, Increased consumer spending, Financial market disruptions

Back

Financial market disruptions

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