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Recession Flashcards | StudBud

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Recession

10 terms·StudBud Administration·914 plays

Knowledge review on recession IGCSE Y11 Economics

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Questions 10

Answers

1
Where is recession in the economic cycle?
B
C
D
A
2
Government's are affected because:
The have more tax from income
They pay more welfare benefits such as JSA to the unemployed
More people will save
There will be a fall in the GDP
3
What is the term used for D?
Boom
Recession
Recovery
Slump
4
Who is most adversely affected by a recession
unemployed person
Part-time waiter
full-time teacher
Part-time dentist
5
What is a recession?
Negative rate of real GDP for two consecutive quarters.
fall in real rate of economic growth
The rise in Real GDP over time
The fall in Real GDP over time
6
Recessions can be reversed in the short-run with
Expansionary demand-side policies
Contractionary demand-side policies
Expansionary supply-side policies
Contractionary supply-side policies
7
Which long run supply-side policy is effective in reducing a recession?
Increase subsidies on high tech industries
Grants for new machinery
Increase in government expenditure on street lighting
Increase income tax
8
A country suffering a recession includes:
Vietnam
Japan
UK
China
9
Which are not expansionary demand-side policies?
Cuts in indirect taxes
rise in government subsidies
Cuts in interest rates
rise in government expenditure
10
Who benefits from a recession?
Savers
pensioners
borrowers
government