Composition, Features, and Explanations of Business Cycles (Grade 12 NSC Matric Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What defines an official recession?
What defines an official recession?
GDP falls for 2 consecutive quarters
What is a trough in a business cycle?
What is a trough in a business cycle?
Point where contraction is at its lowest
What is a peak in a business cycle?
What is a peak in a business cycle?
Point where expansion is at its highest
How many phases does a complete business cycle have?
How many phases does a complete business cycle have?
Four phases
What does the exogenous explanation of business cycles emphasise?
What does the exogenous explanation of business cycles emphasise?
External factors like wars & technology
Which economic school supports the endogenous explanation of business cycles?
Which economic school supports the endogenous explanation of business cycles?
Keynesian economics
How long do Kitchen cycles typically last?
How long do Kitchen cycles typically last?
3 to 5 years
What does amplitude measure in business cycles?
What does amplitude measure in business cycles?
Distance between peaks & troughs
Which institution makes monetary policy decisions in South Africa?
Which institution makes monetary policy decisions in South Africa?
SARB and MPC
In the quantity theory of money formula , what does V represent?
In the quantity theory of money formula , what does V represent?
Velocity of money circulation