Economic Cycle Quiz

What is another name for the economic cycle?

• Business cycle

• Weather cycle

• Water cycle

• Life cycle

Which stage of the economic cycle is known as the "boom" stage?

• Expansion

• Slowdown

• Recession

• Recovery

What happens to wages during the expansion stage?

• Wages increase

• Wages decrease

• Wages stay the same

• Wages disappear

How do people feel during the expansion stage?

• Optimistic

• Pessimistic

• Indifferent

• Confused

What is one of the stages of the economic cycle?

• Slowdown

• Hibernation

• Migration

• Transformation

Which of the following is an indicator of an economic slowdown?

• Interest rates on loans decrease

• Stock market prices drop

• Businesses hire more employees

• Prices on goods fall

What happens to interest rates during an economic slowdown?

• They rise

• They fall

• They stay the same

• They disappear

What happens to consumer confidence during a recession?

• It increases

• It stays the same

• It declines

• It disappears

What is GDP?

• Gross Domestic Product

• General Domestic Product

• Great Domestic Product

• Global Domestic Product

What happens to inflation during a recession?

• It speeds up

• It slows down

• It stays the same

• It disappears