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Recession and Economic Downturn Quiz

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Questions and Answers

What is a recession technically defined as?

A decline in wholesale-retail sales

A decline in real income

2 quarters of negative GDP growth (correct)

A decline in industrial production

How is a recession defined in the United States?

A decline in real income

A decline in wholesale-retail sales

A significant decline in economic activity spread across the market (correct)

A decline in industrial production

What is typically used to measure business cycles?

Consumer Price Index

Real Gross Domestic Production (correct)

Stock Market Index

Unemployment Rate

What varies over time in individual episodes of expansion/recession?

Duration and intensity Signup and view all the answers

How are business cycle fluctuations usually characterized?

By general upswings and downturns in macroeconomic variables Signup and view all the answers

What is a recession technically defined as?

A significant decline in economic activity lasting more than a few months Signup and view all the answers

What is typically used to measure business cycles?

Real Gross Domestic Production Signup and view all the answers

How are business cycle fluctuations usually characterized?

General upswings and downturns in macroeconomic variables Signup and view all the answers

What varies over time in individual episodes of expansion/recession?

The duration and intensity Signup and view all the answers

What are the implications of business cycle fluctuations?

Implications for the welfare of the broad population as well as for private institutions Signup and view all the answers

Recession and Economic Downturn Quiz

Choose a study mode

Podcast

Questions and Answers

What is a recession technically defined as?

How is a recession defined in the United States?

What is typically used to measure business cycles?

What varies over time in individual episodes of expansion/recession?

How are business cycle fluctuations usually characterized?

What is a recession technically defined as?

What is typically used to measure business cycles?

How are business cycle fluctuations usually characterized?

What varies over time in individual episodes of expansion/recession?

What are the implications of business cycle fluctuations?

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