What is the accuracy rate of the Groundhog in predicting weather patterns?
Business Cycles- Macro Topic 2.7

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Business
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11th Grade - University
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Hard
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
30%
40%
50%
60%
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which phase of the business cycle is characterized by low unemployment and high spending?
Recovery
Recession
Peak
Trough
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a negative output gap?
When inflation is high
When unemployment is at its lowest
When GDP is below potential GDP
When GDP is above potential GDP
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it difficult for economists to predict recessions?
Because they lack data
Due to the unpredictable nature of human behavior
Because they focus only on GDP
Due to consistent economic fluctuations
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the official definition of a recession?
A year of economic decline
Two successive quarters of falling GDP
One quarter of falling GDP
A month of high unemployment
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the Sahm Rule use to predict a recession?
Consumer spending patterns
GDP growth rate
Stock market trends
Unemployment rate increase
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What action does Claudia Sahm suggest when unemployment rises by 0.5%?
Raise interest rates
Send stimulus payments to households
Cut government spending
Increase taxes
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