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Questions and Answers
What do economic fluctuations refer to?
What do economic fluctuations refer to?
- Changes in national income (correct)
- Changes in government spending
- Changes in global income
- Changes in consumer savings
What does a decline in national income denote?
What does a decline in national income denote?
- Recession in the economy
- Contraction in the economy (correct)
- Expansion in the economy
- Stagnation in the economy
What are the two main changes in economic fluctuations according to the text?
What are the two main changes in economic fluctuations according to the text?
- Inflation and deflation
- Expansion and depression (correct)
- Boom and bust
- Recovery and recession
What drives the changes in economic fluctuations according to the text?
What drives the changes in economic fluctuations according to the text?
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What does the text suggest about the normalcy of economic fluctuations?
What does the text suggest about the normalcy of economic fluctuations?
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