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Business Cycles and Economic Instability Chap 13 Lesson 1

Quiz by Peter Duesterbeck

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10 questions
Show answers
  • Q1
    An econometric model is used to describe how the economy is expected to perform in the near future.
    TRUE
    FALSE
    30s
  • Q2
    A statistical series that normally turns down after the economy turns down or turns up after the economy turns up is a leading economic indicator.
    FALSE
    TRUE
    30s
  • Q3
    The depression scrip is an index of 30 representative stocks used to monitor price changes in the overall stock market.
    FALSE
    TRUE
    30s
  • Q4
    A business cycle begins when the economy reaches a low and begins to climb out of a recession.
    FALSE
    TRUE
    30s
  • Q5
    The bursting of the housing bubble in 2006–07 negatively affected consumer buying power and was largely responsible for the Great Recession in 2008–2009.
    FALSE
    TRUE
    30s
  • Q6
    A decline in real GDP lasting at least two quarters or more is called a _______________.
    business fluctuation
    business cycle
    peak
    recession
    30s
  • Q7
    A period of recovery from a recession is known as ____________________.
    a trough
    a peak
    an expansion
    an economic model
    30s
  • Q8
    Which of the following indicates what would happen to the economy if it were not interrupted by alternating periods of recession and recovery?
    trough
    trend line
    depression scrip
    economic model
    30s
  • Q9
    Which of the following statements best defines the first phase of a business cycle?
    the economy reaches a turnaround point where real GDP stops going down
    a period during which real GDP declines for at least two quarters in a row
    the economy reaches the point where real GDP stops going up
    a period during which real GDP increases for at least two quarters in a row
    30s
  • Q10
    The Federal Deposit Insurance Corporation (FDIC) was created to...
    regulate new companies that were soliciting funds from investors.
    help people provide for their own retirement.
    prevent working people from being exploited by employers.
    provide modest bank insurance for depositors.
    30s

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