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Economic Indicators Quiz

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12th Grade

Used 19+ times

Economic Indicators Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Macroeconomics is the study of individual markets.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People who receive a Cost of Living Adjustment (COLA) are not affected by inflation.  In other words, their purchasing power does not decrease.

True
False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a typical business cycle model, which stage immediately follows a trough?

Expansion
Contraction
Peak

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is happening to the economy in a period of economic contraction?

GDP is rising and unemployment is falling.
GDP is rising and unemployment is rising.
GDP is falling and unemployment is rising.
GDP is falling and unemployment is falling.

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Caleb takes a job selling cars.  In six months he is laid off due to a slowing economy and poor car sales.  What type of unemployment is Caleb experiencing?

frictional
structural
seasonal
cyclical

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If you live on a fixed income, how will you be affected by inflation.

You are hurt because your purchasing power has decreased.
You are helped because your purchasing power has increased.
You are helped because interest rates rise.
You are hurt because interest rates rise.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The "market basket" that is a list of the prices of items purchased by an average consumer is known as the

unemployment rate
consumer price index
producer price index
economic growth rate

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