Economics Flashcard

Economics Flashcard

Assessment

Flashcard

Social Studies

10th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What does GDP measure?

Back

The total value of goods and services produced within a country

2.

FLASHCARD QUESTION

Front

What is the primary difference between nominal GDP and real GDP?

Back

Real GDP adjusts for inflation, while nominal GDP does not

3.

FLASHCARD QUESTION

Front

The Consumer Price Index (CPI) is used to measure: Economic growth, Full employment, Price stability, National debt

Back

Price stability

4.

FLASHCARD QUESTION

Front

Which of the following is NOT included in the calculation of the CPI? Housing costs, Food prices, Stock market performance, Medical expenses

Back

Stock market performance

5.

FLASHCARD QUESTION

Front

The unemployment rate is calculated by dividing the number of unemployed individuals by:

Back

The labor force

6.

FLASHCARD QUESTION

Front

Which type of unemployment occurs when people are temporarily out of work as they transition between jobs?

Back

Frictional unemployment

7.

FLASHCARD QUESTION

Front

Seasonal unemployment is caused by: Changes in demand based on time of year

Back

Changes in demand based on time of year

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