Section 1 - Instruction

As a quick reminder, during economic booms, GDP rises, unemployment falls, and inflation tends to increase. During recessions, the opposite usually happens: GDP falls, unemployment rises, and inflation slows down.

Engagement Message

Are you ready to apply this knowledge?

Section 2 - Practice

Type

Fill In The Blanks

Markdown With Blanks

An economy reports that [[blank:GDP]] has been falling for two consecutive quarters. As a result, the [[blank:unemployment]] rate has increased, and the [[blank:inflation]] rate has slowed significantly. This is a classic recessionary pattern.

Suggested Answers

  • GDP
  • inflation
  • unemployment
Section 3 - Practice

Type

Sort Into Boxes

Practice Question

Sort these economic characteristics into the correct phase of the business cycle.

Labels

  • First Box Label: Economic Boom
  • Second Box Label: Economic Recession

First Box Items

  • Rising GDP
  • Low unemployment
  • Strong sales

Second Box Items

  • High unemployment
  • Falling inflation
  • Layoffs
Section 4 - Practice

Type

Swipe Left or Right

Practice Question

Let's review unemployment types. Is the scenario describing Cyclical unemployment or part of the Natural Rate (Frictional/Structural)?

Labels

  • Left Label: Cyclical
  • Right Label: Natural Rate

Left Label Items

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