SOLVED

1) What did the U.S. business cycles in the early 1890s and early 1930s have in common? A) rapid industrialization B) persistently high inflation C) high consumer confidence D) all of the above E) none of the above 2) What did the U.S. business cycles in the early 1890s and early 1930s have in common? A) the spread of bank failures B) severe recessions C) high unemployment and low inflation, even deflation D) all of the above E) none of the above 3) What does the U.S. business cycle experience suggest about periods of war? A) the economy tends to boom during the period of war B) after the war is over, the economy typically experiences a downturn C) they are associated with good economic times D) all of the above E) none of the above 4) From 1945 until 1973, the U.S. economy experienced ________. A) rapid inflation B) no major recessions or depressions C) minimal interaction with the global economy D) all of the above E) none of the above 5) In the 1970s, the U.S. economy ________. A) grew at a faster pace than in the previous decade B) experienced low inflation C) experienced increases in unemployment D) all of the above E) none of the above 6) The “Great Moderation” refers to ________. A) sharp declines in asset prices B) the long economic expansion of the 1960s C) the mild economic recoveries of the 1970s and early 1980s D) the “oil tax” of the 1970s E) none of the above 7) The years from 1933 to 1937 are notable for ________. A) high unemployment, despite rapid growth of real output B) low unemployment, despite sluggish output growth C) persistent deflation, despite rising unemployment D) the creation of the Federal Reserve System E) none of the above 8) During the 1970s in the U.S.________. A) the inflation rate peaked at over 14% B) oil prices quadrupled C) the unemployment rate rose above 8% D) all of the above E) none of the above 9) The U.S. economy of the 1970s is typically referred to as ________. A) “The Great Depression” B) “The Great Inflation” C) “The Great Moderation” D) all of the above E) none of the above 10) The U.S. economy of the late 1920s and early 1930s is typically referred to as ________. A) “The Great Depression” B) “The Great Inflation” C) “The Great Moderation” D) all of the above E) none of the above