80 Inflation And Recession Trivia Questions with Answers
80 public questions with answers, drawn from the well. How many can you answer?
Which 1930s U.S. banking legislation separated commercial banking from investment banking?
Answer
Glass–Steagall Act
What was the name of the U.S. emergency program created in 2008 to buy troubled financial assets?
Answer
Troubled Asset Relief Program
What was the highest annual inflation rate recorded in modern Zimbabwe during its 2008 hyperinflation?
Answer
89.7 sextillion percent
According to the NBER, when did the U.S. Great Recession begin?
Answer
December 2007
What 1929 event marked the beginning of the severe U.S. downturn that became the Great Depression?
Answer
Wall Street Crash of 1929
What was the shortest U.S. recession on record, lasting only two months in 2020?
Answer
COVID-19 recession
Which U.S. recession did the NBER date from March to November 2001?
Answer
The 2001 recession
What was the name of the 1990s Japanese asset-price collapse that preceded the country’s prolonged economic stagnation?
Answer
Japanese asset price bubble
Which 1946 U.S. law required the federal government to promote maximum employment, production, and purchasing power?
Answer
Employment Act of 1946
Which U.S. recession began in July 1981 and ended in November 1982, according to the NBER?
Answer
The 1981–1982 recession
Which country became the first to adopt formal inflation targeting in 1990?
Answer
New Zealand
Which U.S. law created the Federal Deposit Insurance Corporation during the Great Depression?
Answer
Banking Act of 1933
Which economist wrote The General Theory of Employment, Interest and Money in 1936?
Answer
John Maynard Keynes
What 1970s U.S. policy imposed price controls and a temporary wage freeze to fight inflation?
Answer
Nixon price controls
Which 1944 agreement created the World Bank and the International Monetary Fund to stabilize the postwar economy?
Answer
Bretton Woods Agreement
Which U.S. president signed the 1935 Social Security Act during the Great Depression?
Answer
Franklin D. Roosevelt
Which 1979 revolution caused a major oil supply shock and contributed to high inflation worldwide?
Answer
Iranian Revolution
What was the name of the 1930s U.S. program that paid farmers to reduce crop production?
Answer
Agricultural Adjustment Act
Which international institution publishes the World Economic Outlook, including forecasts for growth and inflation?
Answer
International Monetary Fund
What is the economic term for inflation caused by excessive demand exceeding an economy’s productive capacity?
Answer
Demand-pull inflation
What 1997 currency crisis began when Thailand abandoned its fixed exchange rate for the baht?
Answer
Asian financial crisis
Which 1930 U.S. law sharply raised tariffs on many imported goods during the Great Depression?
Answer
Smoot–Hawley Tariff Act