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Recession: Quiz


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Question 1: The ________ market also usually weakens before a recession.
Allodial titleReal estatePropertyOwnership

Question 2: ________ tends to fall in the early stages of a recession, then rises again as weaker firms close.
ProductivityLabour powerCapital accumulationValue product

Question 3: There is no commonly accepted definition of a global recession, although the ________ regards periods when global growth is less than 3% to be global recessions.
Bretton Woods systemInternational Monetary FundWorld Bank GroupBasel Committee on Banking Supervision

Question 4: ________ economists may suggest tax cuts to promote business capital investment.
Keynesian economicsCapitalismLaissez-faireSupply-side economics

Question 5: Most mainstream economists believe that recessions are caused by inadequate ________ in the economy, and favor the use of expansionary macroeconomic policy during recessions.
Aggregate demandReal versus nominal value (economics)Keynesian economicsInflation

Question 6: In the ________ the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) is generally seen as the authority for dating US recessions.
United StatesCanadaAlaskaPhilippines

Question 7: Monetarists would favor the use of expansionary monetary policy, while ________ economists may advocate increased government spending to spark economic growth.
Keynesian economicsJohn Maynard KeynesCapitalismEconomics

Question 8: Governments usually respond to recessions by adopting expansionary ________, such as increasing money supply, increasing government spending and decreasing taxation.
Heterodox economicsMacroeconomicsEconomicsMicroeconomics

Question 9: ________ - August 1929 to September 1939: longest (and deepest) recession of the 20th century
Great DepressionFederal Reserve SystemUnited StatesRepublican Party (United States)

Question 10: The 1981 recession is thought to have been caused by the tight-money policy adopted by ________, chairman of the Federal Reserve Board, before Ronald Reagan took office.
Lawrence SummersPeter R. OrszagPaul VolckerRahm Emanuel

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