Understanding Economic Cycles

Understanding Economic Cycles

Assessment

Interactive Video

Business

9th - 10th Grade

Practice Problem

Hard

Created by

Nancy Jackson

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two main phases of the economic cycle?

Boom and Bust

Expansion and Contraction

Growth and Decline

Expansion and Recession

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which phase of the economic cycle is characterized by the highest level of growth?

Expansion

Trough

Contraction

Peak

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for a prolonged contraction phase lasting more than a year?

Deflation

Depression

Stagnation

Recession

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which phase follows the peak in the economic cycle?

Expansion

Contraction

Trough

Recovery

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a rising GDP indicate about an economy?

The economy is producing at a greater level

The economy is shrinking

The economy is stagnant

The economy is in a recession

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of GDP in understanding economic cycles?

It measures the unemployment rate

It indicates the level of economic production

It predicts future economic phases

It tracks inflation rates

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a positive economic shock?

A natural disaster affecting production

A government policy causing inflation

A celebrity endorsing a product, increasing its demand

A sudden decrease in consumer demand

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