Boom

What is the economic term 'boom' commonly used to describe?

• A period of rapid economic growth

• A sudden market crash

• A long-term recession

• A stable economic period

Which of the following is a characteristic of an economic boom?

• High unemployment rates

• Decreased consumer spending

• Increased production and sales

• Deflation

During an economic boom, what typically happens to the stock market?

• It crashes

• It remains stable

• It experiences growth

• It declines

Which historical period is often referred to as the 'Roaring Twenties' due to its economic boom?

• The 1920s

• The 1930s

• The 1940s

• The 1950s

What is a potential downside of an economic boom?

• Increased unemployment

• Inflation

• Decreased GDP

• Lower consumer confidence

Which sector often benefits the most during an economic boom?

• Agriculture

• Technology

• Mining

• Healthcare

What is the opposite of an economic boom?

• Recession

• Inflation

• Stagnation

• Deflation

How does consumer confidence typically change during an economic boom?

• It decreases

• It remains unchanged

• It increases

• It fluctuates unpredictably

Which government policy is often implemented to control an overheating economy during a boom?

• Tax cuts

• Interest rate hikes

• Increased government spending

• Deregulation

What is a 'boomtown'?

• A town experiencing rapid growth due to economic prosperity

• A town that has been abandoned

• A town with a declining population

• A town known for its historical significance