What is the typical frequency of economic booms and busts?
The Recession We Need To Have | Economics Explained

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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Every 25 to 30 years
Every 7 to 10 years
Every 15 to 20 years
Every 2 to 3 years
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do supply and demand influence market prices?
Supply and demand have no effect on prices
Prices are determined by the interaction of supply and demand
Prices are determined solely by demand
Prices are determined solely by supply
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential consequence of increasing supply without increasing demand?
Inflation
Deflation
Stagnation
Recession
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which sector is primarily responsible for supplying goods and services in major economies?
The government sector
The international sector
The non-profit sector
The private sector
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one way governments can indirectly encourage supply-side growth?
Building more public infrastructure
Reducing welfare programs
Increasing taxes
Providing government grants for research and development
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the two broad classifications of economic downturns?
Domestic and international downturns
Monetary and fiscal downturns
Short-term and long-term downturns
Demand and supply downturns
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can economic downturns benefit long-term growth?
By eliminating poor economic practices
By increasing inflation
By reducing consumer confidence
By increasing government debt
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