5.4 The U.S. Economy Since 1970
1) Since 1970, the U.S. economy has experienced five
A) periods of high inflation.
B) recessions.
C) deflations.
D) periods of stagflation.
2) Since 1970, the U.S. economy has experienced two
A) periods of high inflation.
B) recessions.
C) deflations.
D) all of the above
3) During the U.S. recession of 1980-1982, the unemployment rate reached a high of ________ percent.
A) 7.6
B) 8.8
C) 10.7
D) 22.4
4) In the U.S. economy, the inflation rate in 1975 peaked at ________ percent.
A) 9.2
B) 11.1
C) 14.2
D) 22.4
Refer to the information for this hypothetical economy provided in Table 5.1 below to answer the questions that follow.
Table 5.1
2010 2011 2012
|
Quarter |
I |
II |
III |
IV |
I |
II |
III |
IV |
I |
II |
III |
IV |
|
Output |
90 |
94 |
98 |
102 |
96 |
91 |
88 |
84 |
87 |
94 |
90 |
87 |
5) Refer to Table 5.1. In this economy, a trough existed around the
A) fourth quarter of the year 2011.
B) fourth quarter of the year 2010.
C) second quarter of the year 2011.
D) third quarter of the year 2012.
6) Refer to Table 5.1. In this economy, a peak existed around the
A) third quarter of the year 2012.
B) third quarter of the year 2010.
C) fourth quarter of the year 2011.
D) fourth quarter of the year 2010.
7) Refer to Table 5.1. The period from after the fourth quarter of 2010 until before the first quarter of 2012 can be categorized as a period of
A) high inflation.
B) low unemployment.
C) high production.
D) high unemployment.
8) Refer to Table 5.1. Which of the following quarters can be associated with inflation?
A) the second quarter of the year 2010
B) the first quarter of the year 2012
C) the second quarter of the year 2012
D) all of the above
9) Since 1970, the U.S. economy has experienced 2 recessions.
10) Since 1970, the U.S. economy has experienced 2 periods of high inflation.
11) Since 1970, the annual inflation rate in the U.S. has been about 9.7 percent or more.
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