Measuring The Economy

Measuring The Economy

I can describe the relationship between the GDP and the business cycle.

Multiple Choice

What does GDP mean Gross Domestic Product?

• Yes

• No

Multiple Choice

The rise & fall of economic activity through periods of expansion & ______?

• recession

• protection

• deflection

• inception

Open Ended

What are 2 types of the workforce?

Multiple Choice

Is working part-time considered unemployed?

• Yes

• No

• Maybe

Open Ended

Deflation rate is the percentage that is the decrease in the average price of the economy’s goods & services. (True or False)

Open Ended

Name one CPI category?