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The Economic Cycle

Total questions: 11

Worksheet time: 7mins

Name
Class
Date
1.

Complete the following sentence........Mr Shortland is........

a)

the best teacher in the world

b)

a genius

c)

a kind and caring soul

d)

Iron Man

2.

What comes before a recession in the economic cycle?

a)

Boom

b)

Slump

c)

Stagnation

d)

Dave

e)

Negativity

3.

Select 2 features of a recession

a)

High Unemployment

b)

Higher Standard of Living

c)

Higher Wages

d)

Negative Growth

e)

Decrease in Government Borrowing

4.

A recession is how many consecutive periods of negative growth?

a)

5

b)

3

c)

1

d)

2

e)

4

5.

Which industry out of the following would you expect to flourish and grow during a recession?

a)

Banking

b)

Discount Retailers

c)

Travel Agents

d)

High End Restaurants

e)

Private Healthcare

6.

China is the worlds largest country by population. Since 1992 it has achieved remarkable rates of economic growth. The growth rate has never been below 6% in the last 20 years or so, and it has been as high as 15% per year. In fact, China has achieved double-digit (10% or more) growth rates in a number of years.


What were China's lowest and highest growth rates during the the period detailed in the case study?

a)

10% and 15%

b)

6% and 10%

c)

6% and 15%

d)

Not Enough Data To Answer

7.

Which one of these methods would a government choose to help an economy in recession recover from it?

a)

Invest in Infrastructure

b)

Borrow Less Money

c)

Raise Taxes

d)

Lower the Minimum Wage

e)

Increase Interest Rates

8.

In what decade did the last global recession start?

a)

1990s

b)

1980s

c)

2000s

d)

2010s

e)

There hasn't been a global recession in the past 40 years

9.

A recession has just taken hold in Costa Rica. As a result inflation is low and the value of currency has fallen. The country relies heavily on tourism and bananas. What would be the effect on tourism and banana exports?

a)

Rise in tourism and rise in exports

b)

Decline in tourism and rise in exports

c)

Rise in tourism and decline in exports

d)

Decline in tourism and decline in exports

10.

John goes on holiday to Spain, during the trip the Spanish economy goes into recession. How will this potentially impact Johns holiday?

a)

Cheaper Souvenirs

b)

Rise in food costs

c)

Better exchange rate (Euro)

d)

More staff at the hotel

e)

Minor to major disruption due to protests

11.

When a recession comes to an end what is the next stage in the Economic cycle?

a)

Slump

b)

Boom

c)

Recovery

d)

Recession

e)

Relief