Understanding the U.S. Economy's Business Cycle

Understanding the U.S. Economy's Business Cycle

9th Grade

10 Qs

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Understanding the U.S. Economy's Business Cycle

Understanding the U.S. Economy's Business Cycle

Assessment

Quiz

Social Studies

9th Grade

Practice Problem

Hard

Created by

Susan Lowe

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary focus of the U.S. Economy's business cycle as discussed in the document?

Predicting stock market trends

Analyzing technological advancements

Understanding fluctuations in economic activity

Evaluating political changes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the document, what significant economic event did the U.S. experience from April 2020?

A prolonged economic boom

Entry into a two-month recession

A steady increase in GDP

Unchanged economic conditions

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term "peak" in the business cycle refer to?

The lowest point of economic activity

The highest point of economic activity

The beginning of an economic expansion

The end of an economic recession

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is the term "recession" defined in the context of the business cycle?

A period of rapid economic growth

A decline in GDP for two consecutive quarters

A significant drop in employment and production

A short period of economic recovery

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is indicated by the orange bars in Figure 2 of the document?

Periods of economic expansion

Peaks in economic activity

Recessions as identified by NBER

Troughs in economic activity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the average duration of an economic expansion since World War II according to the document?

About 65 months

About 50 months

About 75 months

About 85 months

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What significant event contributed to the COVID-19 recession in March-April 2020?

Decreased consumer spending and increased saving

Increased government spending

Improved business confidence

Decreased interest rates

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