ECON - Unit 4 Practice Test

ECON - Unit 4 Practice Test

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Wayground Content

FREE Resource

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20 questions

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1.

FLASHCARD QUESTION

Front

Point #1 on the graph indicates a __________ of the business cycle.

Back

Peak

2.

FLASHCARD QUESTION

Front

Point #2 on the graph indicates a __________ of the business cycle.

Back

Contraction

3.

FLASHCARD QUESTION

Front

Point #4 on the graph indicates a __________ of the business cycle.

Back

Expansion

4.

FLASHCARD QUESTION

Front

Gross Domestic Product is a method for calculating how much a country produces by adding which four spending categories? Options: Consumption, Investment, Government, Net Exports, Consumption, Investment, Government, Business expenditures, Consumption, Interest Rates, Government, Net Exports, Wages, Rent, Interest, Profit

Back

Consumption, Investment, Government, Net Exports

5.

FLASHCARD QUESTION

Front

A market basket is generally used to

Back

compare prices of goods between years to calculate the consumer price index.

6.

FLASHCARD QUESTION

Front

The best definition of inflation is:

Back

A rise in the price level

7.

FLASHCARD QUESTION

Front

Generally speaking, inflation is beneficial to ________ and harmful to _________.

Back

borrowers; lenders

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