#1
Which of the following is a characteristic of economic fluctuations?
Consistent and steady growth
Unpredictable ups and downs
Linear progression over time
Stagnation without any change
#2
What is the term used to describe the period of declining economic activity spread across the economy?
Expansion
Recession
Peak
Trough
#3
According to the business cycle theory, what follows a trough in economic activity?
Expansion
Recession
Peak
Depression
#4
What term describes a situation in which the general price level is falling?
Inflation
Deflation
Stagflation
Hyperinflation
#5
What does the term 'business cycle' refer to in economics?
The process of starting a new business
The fluctuations in economic activity over time
The competition between different businesses
The cycle of business taxes and regulations
#6
Which of the following is considered a leading indicator of economic activity?
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Stock Market Index
Unemployment Rate
#7
Which of the following factors can contribute to economic fluctuations?
Monetary Policy
Climate Change
Technological Advancement
All of the above
#8
Which of the following is a characteristic of an economic boom?
High inflation
Decreased consumer spending
Increased unemployment
Low business confidence
#9
What is the term used to describe a prolonged period of economic decline that lasts for several years?
Depression
Recovery
Stagnation
Boom
#10
Which of the following is a lagging indicator of economic activity?
Consumer Confidence Index
Unemployment Rate
Industrial Production
Stock Market Index
#11
What economic theory suggests that the government should intervene during economic downturns to stabilize the economy?
Monetarism
Keynesian Economics
Supply-Side Economics
Classical Economics
#12
Which of the following factors can lead to an economic recession?
Increased consumer spending
Rising interest rates
Expansionary monetary policy
High levels of government investment
#13
Which of the following is a characteristic of stagflation?
High economic growth
High inflation and high unemployment
Low inflation and low unemployment
Rapid deflation
#14
Which of the following is an example of an external shock that can cause economic fluctuations?
Government fiscal policy
Technological advancements
Natural disasters
Consumer preferences
#15
Which of the following is NOT a measure of unemployment?
Labor Force Participation Rate
Underemployment Rate
U-6 Rate
Gini Coefficient