Economic Review: Question Preview (ID: 24969)


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An economic recession refers to
a) Long period of time of economic growth b) A government policy of printing more money c) A short period of booming economic growth d) A sustained decline in economic output
Total value of goods and services produced within a country
a) GDP b) Inflation c) Depression d) Employment
An increase in prices with a decrease in the value of money
a) GDP b) Recession c) Inflation d) Depression
What was the period economic decline better known as in NC in the 1800's?
a) Great Depression b) Rip Van Winkle State c) Roaring 20's d) Great recession
What was NOT a cause of economic downturn in the 1800's?
a) Poor farming b) Lack of transportation c) Poor education d) Drought
What was the main cause of the Great Recession in 2008
a) Housing market collapsed b) Stock market crashed c) Buying too much d) Unemployment
Which is NOT a cause of wide spread unemployment?
a) Advances in technology b) Increase in minimum wage c) Recession d) entrepreneurs
What happens when a country's GDP falls?
a) Recession b) Depression c) Inflation d) Prosperity
During the Civil War, what was a major economic problem that affected both sides?
a) Recession b) No slavery c) Inflation d) Depression
What is a severe and prolonged downturn in economic activity
a) Recession b) Depression c) Inflation d) Saving account
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