Economic nightmare?

Economic nightmare?

Assessment

Interactive Video

Business, Health Sciences, Biology

11th Grade - University

Hard

Created by

Quizizz Content

FREE Resource

The video discusses economic catastrophes, focusing on the COVID-19 pandemic's unique challenges. It explains three types of economic shocks: demand, supply, and financial. COVID-19 potentially causes all three, impacting global supply chains and consumer confidence. Traditional fiscal and monetary policies may be ineffective, requiring innovative solutions. The economic impact is more about public reaction than the disease itself, with the best outcome being containment and limited recession.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a demand shock in the context of an economic recession?

A sudden increase in consumer spending

A decrease in consumer and business spending due to economic fears

A rise in stock market investments

An increase in the availability of essential goods

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a supply shock differ from a demand shock?

It involves a decrease in consumer confidence

It results from increased costs or unavailability of essential goods

It is caused by a rise in stock market prices

It leads to increased government spending

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What makes the coronavirus pandemic particularly challenging for the economy?

It leads to increased consumer spending

It can trigger demand, supply, and financial shocks simultaneously

It only affects the financial sector

It only causes a demand shock

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might traditional fiscal policy be ineffective during a pandemic?

Because quarantines limit the ability to spend

Because it only affects the supply side

Because it increases interest rates

Because it leads to higher taxes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key factor in economic recovery from a pandemic-induced recession?

Increasing interest rates

Boosting public confidence to encourage spending

Limiting international trade

Reducing government spending