Intro to Business Chapter 2 Assessment

Front

Only final goods are counted when the GDP is measured.

Back

True

Front

When you buy a corporate bond, you have lent money to a company or business.

Back

True

Front

Which of the following would NOT be included in the measure of GDP?
Ivanhoe company exports $25 of books to Italy
The US government buys office supplies which costs $30 million from The Supply Closet
You and your cousin John detail your cars in your driveway.
You hire Anthony's Lawn Car to cut your grass once a week for $25/a week

Back

You and your cousin John detail your cars in your driveway.

Front

An increase in the GDP per capita means

Back

an economy is growing

Front

An increase in the general level of prices is called

Back

inflation

Front

The portion of people in the labor force that are not working is called

Back

unemployment rate

Front

Which of the following represents ownership in a corporation? bond, stock, recession, inflation

Back

stock

Front

Which of the following is an example of the debt that a corporation may have? bond, stock

Back

bond

Front

The total dollar value of all final goods and services produced in a country during one year is called the

Back

Gross domestic product (GDP)

Front

The movement of the economy from one condition to another is called

Back

the business cycle