AP MACRO Economic indicators

AP MACRO Economic indicators

12th Grade

10 Qs

quiz-placeholder

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AP MACRO Economic indicators

AP MACRO Economic indicators

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

Heather Leon

Used 21+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which model/graph illustrates the total expenditures and total incomes of an economy?

FOREX

PPC

Circular Flow

Business Cycle

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following calculation approaches for GDP find the sum of Consumption, Investment, Government Spending and Net Exports?

Income Approach

Expenditure Approach

Value Added Approach

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The unsold goods of a company's production are called the

inventories

backlogs

monetary value

non-market production

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the CPI in 2017 was 100 and the CPI in 2018 was 110, with no changes in nominal wages, which of the following is correct?

real wages increased by 10%

the inflation rate was 10%

Nominal GDP decreased by 10%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Jan works a 30-hour week for a minimum wage of $12 per hour and the CPI at the end of the year is 125, what is Jan's REAL wage at the end of the year?

$8

$9

$10

$12

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these terms is a SLOWING of the rate of inflation?

deflation

disinflation

hyperinflation

stagflation

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a saver takes out a 1 year CD at 3% interest and at the end of the year the government reports that prices have fallen by 5% for the year, what is the result of this transaction?

saver loses; bank gains

both the saver and the bank lose

saver gains; bank loses

both saver and the bank gain

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