Podcast
Questions and Answers
What is the term used to describe the phenomenon when the economy experiences a period of falling output and rising unemployment?
What is the term used to describe the phenomenon when the economy experiences a period of falling output and rising unemployment?
- Stagflation
- Deflation
- Depression
- Recession (correct)
What is the average annual growth rate of the real GDP in the United States?
What is the average annual growth rate of the real GDP in the United States?
- 2 percent
- 4 percent
- 3 percent (correct)
- 5 percent
When did a recent recession begin?
When did a recent recession begin?
- Late 2009
- Late 2007 (correct)
- Late 2006
- Late 2008
What term is used to describe when the economy's production of goods and services does not grow smoothly?
What term is used to describe when the economy's production of goods and services does not grow smoothly?
What happened to the unemployment rate during the recent recession?
What happened to the unemployment rate during the recent recession?
What term do economists use to refer to short-run fluctuations in output and employment?
What term do economists use to refer to short-run fluctuations in output and employment?
When did the recession officially end?
When did the recession officially end?
What was the unemployment rate by the end of the 1982 recession?
What was the unemployment rate by the end of the 1982 recession?
In what year did the United States experience a recession just two years after the previous downturn?
In what year did the United States experience a recession just two years after the previous downturn?
What is the primary focus of Part Four of the book referred to in the text?
What is the primary focus of Part Four of the book referred to in the text?
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