Economic Indicators

Economic Indicators

9th - 12th Grade

38 Qs

quiz-placeholder

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Economic Indicators

Economic Indicators

Assessment

Quiz

Other, English, History

9th - 12th Grade

Practice Problem

Hard

Used 180+ times

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38 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The business cycle describes the fact that

unemployment levels are constantly changing
an economy's level of output fluctuates between times of recession and expansion.
inflation rates are constantly changing.
politicians usually pass laws that cause the economy to react in unpredictable ways.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the long run, the economy of the United States has

steadily grown over time.
steadily declined over time.
behaved in ways that cannot be explained by modern macroeconomists.
experienced drastic fluctuations, but it is back to its old levels now.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The general relationship between GDP and unemployment can be described as

 direct; meaning that an increase in one variable usually signals an increase in the other variable.
direct; meaning that an increase in one variable usually signals no change in the other variable.
inverse; meaning that a decrease in one variable usually signals a decrease in the other variable
d) inverse; meaning that an increase in one variable usually signals a decrease in the other variable.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

During recessions all of the following usually happen EXCEPT

GDP decreases.
unemployment increases.
inflation increases.
inflation decreases.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When the economy experiences an expansion, it is most likely the case that

GDP is increasing, unemployment is increasing, and inflation is decreasing.
GDP is increasing, unemployment is decreasing, and inflation is increasing.
GDP is decreasing, unemployment is decreasing, and inflation is increasing.
GDP is decreasing, unemployment is decreasing, and inflation is decreasing.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It is important to control the strength of expansions because

long run growth is not desirable.
it will help prevent recessions from happening.
it is important to keep unemployment from getting too high.
it is important to keep inflation from getting too high.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

GDP is an important economic measurement because it 

provides valuable data on unemployment rates
measures the combined total of all intermediate and final goods produced. 
measures all final goods and services produced by a country.
includes all economic activity, including financial transactions and purchases of used goods

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