Business Cycle
Authored by Kimmerli Isler
Social Studies
9th Grade
Used 7+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which phase of the business cycle is characterized by high levels of economic activity?
Expansion
Peak
Recession
Trough
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During which phase of the business cycle does the economy experience a decline in economic activity?
Expansion
Peak
Recession
Trough
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which phase of the business cycle is characterized by increase in production, money flow, and employment?
Expanion
Peak
Trough
Recession
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In what way do consumers act differently along the points of the business cycle?
During times of expansion, people tend to spend more moeny.
During times of contraction or recession, people tend to spend less money.
During peak times, people will start to back off a bit from their spending because of increased interest rates and inflation.
All of these are true.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In economics, what is production theory primarily concerned with?
Determining the optimal level of production
Analyzing the factors of production
Predicting consumer demand
Identifying market competitors
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes the circular flow of income and expenditure?
The circulation of resources within the production process
The impact of taxation on consumer spending
The movement of money between households and firms in an economy
The exchange of goods and services between countries
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In economics, what is inflation?
The decrease in the general level of prices over time
A sustained increase in the average level of prices
The rate at which the value of a currency depreciates
An increase in the buying power of money
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