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CA Foundation Economics: related Business Economics practice — page 3

The practice bank below covers broader Business Economics topics; a dedicated Economics lesson is not available yet.

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Business Economics questions and exercises with answers

Showing questions 61–90 of 245.

In Schumpeter's cycle, falling prices and output with high interest rates describe:Read the answer and worked solution →Sismondi's 1819 work was the first systematic exposition of:Read the answer and worked solution →The Panic of 1825 is described as the first inarguably international crisis that occurred:Read the answer and worked solution →Sismondi and Robert Owen blamed economic cycles mainly on:Read the answer and worked solution →Henry George proposed which remedy for crises driven by land speculation?Read the answer and worked solution →Karl Marx claimed that periodic capitalist crises were:Read the answer and worked solution →The now standard definition of business cycles (1946) was given by:Read the answer and worked solution →In the Burns and Mitchell definition, business cycles vary in duration from over one year to:Read the answer and worked solution →The NBER defines an expansion as the period running from a:Read the answer and worked solution →The NBER Business Cycle Dating Committee identifies peaks and troughs:Read the answer and worked solution →Series used to infer the business cycle are grouped as lagging, coincident and:Read the answer and worked solution →Hamilton linked most post-war recessions to an increase in the price of:Read the answer and worked solution →Which school argues that business cycles come from exogenous causes?Read the answer and worked solution →The Keynesian school argues that business cycles have:Read the answer and worked solution →Supporters of exogenous causes of crises generally favour:Read the answer and worked solution →The exogenous view of the cycle dates back to the law formulated by:Read the answer and worked solution →In 1927, Eugen Slutzky showed that summing random numbers could produce:Read the answer and worked solution →Simple Keynesian models give cyclical responses through the multiplier and the:Read the answer and worked solution →Import spending is described as procyclical, meaning it generally:Read the answer and worked solution →During a recession, spending on imported goods and services typically:Read the answer and worked solution →The debt deflation theory of the Great Depression is credited to:Read the answer and worked solution →The Financial Instability Hypothesis of business cycles is due to:Read the answer and worked solution →In credit-cycle theory, the bursting of speculative bubbles is seen as the proximate cause of:Read the answer and worked solution →Real business cycle theory is most associated with:Read the answer and worked solution →In real business cycle models, fluctuations arise from random changes in:Read the answer and worked solution →The product based theory of economic cycles originates from the work of:Read the answer and worked solution →The electoral business cycle theory holds that incumbents:Read the answer and worked solution →The partisan business cycle results from successive governments with:Read the answer and worked solution →The Austrian School blames business cycles on excessive issuance of:Read the answer and worked solution →In the Austrian view, artificially low interest rates cause resources to be:Read the answer and worked solution →

Worked practice questions

In Schumpeter's cycle, falling prices and output with high interest rates describe:

  1. Expansion
  2. Recession
  3. Crisis
  4. Recovery
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Correct answer: B. Recession

Recession in this model means drops in prices and output while interest rates are high.

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Sismondi's 1819 work was the first systematic exposition of:

  1. Free trade gains
  2. Comparative advantage
  3. Economic crises
  4. Marginal utility
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Correct answer: C. Economic crises

Sismondi offered the first systematic account of economic crises, challenging the equilibrium view of classical economics.

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The Panic of 1825 is described as the first inarguably international crisis that occurred:

  1. During a world war
  2. After a banking collapse
  3. Because of a gold shortage
  4. In a time of peace
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Correct answer: D. In a time of peace

The 1825 panic was the first clearly international economic crisis not linked to war.

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More Business Economics topics

Price-Output Determination under Different Market FormsPublic FinanceSupplyLaw of DemandInternational TradeBasic Problems of an Economy and Role of Price MechanismProduction And CostBusiness Cycles