Title: QUIZ: Business Cycles -- Jargon Alert
Course: Andria Testing FRE2 > Section: Business Cycles -- Jargon Alert

Q: What are business cycles, according to the article?
- Fluctuations in economic activity between expansions and recessions
- Periods of rapid economic growth followed by periods of stagnation or decline
- Cycles of inflation and deflation that occur throughout the broader economy
- Trends in the stock market that repeat over time
A: Fluctuations in economic activity between expansions and recessions

Q: Who tracks the dates of business cycle peaks and troughs in the United States?
- The Federal Reserve
- The Congressional Budget Office
- The National Bureau of Economic Research
- The Bureau of Economic Analysis
A: The Bureau of Economic Analysis

Q: According to the article, what is the average length of time between recessions since the end of World War II?
- 28 months
- 35 months
- 58 months
- 72 months
A: 58 months

Q: As described in the article, what is the difference between a "recovery" and an "expansion"?
- There is no difference--the terms are used interchangeably.
- A recovery is the period of rapid growth after a recession, while an expansion is the period of sustained growth beyond pre-recession levels.
- A recovery is when the economy returns to its pre-recession peak, while an expansion is when growth exceeds that previous peak.
- A recovery refers to the housing market, while an expansion refers to the broader economy.
A: A recovery is when the economy returns to its pre-recession peak, while an expansion is when growth exceeds that previous peak.

Q: What development in the 1990s helped bridge the gap between the Keynesian and real business cycle approaches?
- The discovery of the milder recessions during the Great Moderation
- The synthesis of different sources of shocks and wage/price stickiness
- The increased focus on financial market frictions and their role in economic fluctuations
- The end of the business cycle as we knew it
A: The synthesis of different sources of shocks and wage/price stickiness

Q: What is the article's main message about predicting future recessions?
- Recessions are predictable as the occur over a 58-month business cycle.
- Economists should focus more on overheating in the economy than average business cycle length.
- The United States is "due" for another recession because the expansion has reached the required 24 months.
- Predicting recessions is not an inherently difficult task due to the predictable nature of economic shocks.
A: Economists should focus more on overheating in the economy than average business cycle length.

Q: What is the primary purpose of this article?
- To explain the historical development of Keynesian business cycle theory
- To describe the current state of knowledge about the causes of business cycles
- To discuss the challenges in predicting the timing of future recessions
- To argue for a particular policy approach to managing business cycles
A: To describe the current state of knowledge about the causes of business cycles