Ways of Representing Business Cycles (Grade 10 NSC Matric Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
ShowHide
Practise the questions
10 questions from this quiz
What is a time series in economics?
What is a time series in economics?
Data collected at regular intervals
What does the word 'real' mean in economic terms?
What does the word 'real' mean in economic terms?
Inflation effects have been removed
When is prosperity officially declared?
When is prosperity officially declared?
After 6 consecutive months of growth
How is a recession officially defined?
How is a recession officially defined?
2 consecutive quarters of decline
What are the four main phases of the business cycle?
What are the four main phases of the business cycle?
Prosperity, recession, depression, recovery
Which phases are included in the expansion period?
Which phases are included in the expansion period?
Recovery and prosperity
What is the peak in a business cycle?
What is the peak in a business cycle?
Highest point of economic activity
What typically happens to interest rates during prosperity?
What typically happens to interest rates during prosperity?
They increase
What happens to exchange rates during a recession?
What happens to exchange rates during a recession?
Currency weakens
What characterises a depression?
What characterises a depression?
Extended recession with large unemployment