1) What’s a business cycle? a) A fixed schedule of economic events every year b) A continuous increase in a country’s economic activity c) A periodic but irregular up-and-down movement in economic activity d) A government-planned economic system 2) What is the average duration of a business cycle according to economists? a) 1 year b) 3 year c) 6 year d) 10 year 3) How is a business cycle typically measured? a) By observing employment rates only b) By fluctuations in real GDP and other macroeconomic variables c) By using only consumer spending habits d) By changes in stock market prices 4) Which of the following correctly lists the four main stages of a business cycle? a) Inflation – Recession – Boom – Depression b) Decline – Recovery – Inflation – Stability c) Boom – Stability – Crisis – Drop d) Recession – Recovery – Growth – Decline 5) Which are internal and external factors that influence a business cycle? a) Business investment, government activity, inventions, and wars b) Weather and population growth c) Consumption, business investment, and wars d) Consumer habits and weather conditions

Business Cycle: Lesson 2

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