In popular economic usage, how many consecutive quarters of falling real GDP define a recession?
Answer
Two consecutive quarters
80 Inflation And Recession Trivia Questions with Answers
80 public questions with answers, drawn from the well. How many can you answer?
Which international institution created the Special Drawing Right in 1969 as a supplementary reserve asset?
Answer
International Monetary Fund
What economic term describes a recession occurring at the same time as falling prices?
Answer
Deflationary recession
Which 1998 Russian financial event caused the government to default on domestic debt and devalue the ruble?
Answer
Russian financial crisis
What term describes inflation caused by rising production costs, such as wages or energy prices?
Answer
Cost-push inflation
Which economist’s 1936 book argued that government spending could help end a recession?
Answer
John Maynard Keynes
What was the name of the long economic downturn that began after the Panic of 1873?
Answer
Long Depression
Which currency experienced the world’s fastest recorded hyperinflation in Hungary in 1946?
Answer
Hungarian pengő
What was the highest denomination of banknote issued by Zimbabwe during its 2000s hyperinflation?
Answer
100 trillion dollars
What 2008 U.S. law authorized the Troubled Asset Relief Program during the financial crisis?
Answer
Emergency Economic Stabilization Act
What economic policy usually involves raising interest rates to slow inflation by reducing borrowing and spending?
Answer
Contractionary monetary policy
What U.S. government index measures average changes in consumer prices and is widely used to track inflation?
Answer
Consumer Price Index
Which U.S. president signed the National Industrial Recovery Act during the Great Depression in 1933?
Answer
Franklin D. Roosevelt
On what date did Lehman Brothers file for bankruptcy, intensifying the 2008 financial crisis?
Answer
September 15, 2008
Which organization officially dates U.S. recessions using a monthly business-cycle peak and trough?
Answer
National Bureau of Economic Research
Which 1929 event is commonly used to mark the beginning of the Great Depression?
Answer
Wall Street Crash