Federal Reserve Bank of Boston Economic Quiz
U.S. Business Cycles
1. What is a Business Cycle?
Budgeted Business Investment
Increases in Supply and Demand
Budgeted Government Expenditures
Period of Economic Growth and Contraction
2. Which organization is responsible for determining when the U.S. economy is in a recession?
The Federal Reserve System
The Bureau of Economic Analysis
The National Bureau of Economic Research
The Council of Economic Advisors
3. Including the recession that started in March 2001, how many recessions have there been in the U.S. economy since 1960?
4. What is the average duration, in months, of U.S. expansions since 1960? Do not include the current expansion that started in December 2001.
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Economic quiz written by: Delia Sawhney - April 15, 2002
Views expressed in the economic quiz are those of the individual author.