Economics Unit 4 Review

Economics Unit 4 Review

Assessment

Flashcard

Social Studies

12th Grade

Hard

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25 questions

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1.

FLASHCARD QUESTION

Front

Which of the following is NOT a function of money? Medium of Exchange. Store of Value. Measure of value. Measure of Inflation.

Back

Measure of Inflation.

2.

FLASHCARD QUESTION

Front

The general rise in price levels is called:

Back

Inflation

3.

FLASHCARD QUESTION

Front

Which of the following would be included in the unemployment rate? 15 year-old looking for a job at a local grocery store., An employed persons searching for another job due to pay., A stay at home mother not searching for a job., A 21-year-old unemployed college graduate actively searching for a job.

Back

A 21-year-old unemployed college graduate actively searching for a job.

4.

FLASHCARD QUESTION

Front

Expansionary periods of the business cycle are always characterized by: Low inflation, GDP growth, GDP stagnation, High inflation

Back

GDP growth

5.

FLASHCARD QUESTION

Front

Observable fluctuations in the economy are observable in which economic model?

Back

Business Cycle.

6.

FLASHCARD QUESTION

Front

The goal of economists is to: Reduce GDP, Keep inflation stable, Reduce inflation, Promote economic stagnation

Back

Keep inflation stable

7.

FLASHCARD QUESTION

Front

The dollar value of goods produced in an economy is known as:

Back

GDP

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