Economic Performance

Economic Performance

12th Grade

21 Qs

quiz-placeholder

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Economic Performance

Economic Performance

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Stephanie Siddall

Used 3+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Our macroeconomic goals are

GDP growth 3%, unemployment 4-6%, inflation 1-2%

low taxes and economic growth

free wifi nationwide

real GDP per capita growth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an intermediate good

a new car

a dining table

a couch

raw lumber

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For a good/service to be included in GDP it must

be a final good, made here, this year

be a finished good

it must be a final good, made by an American owned company

it must be made at a factory

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between real GDP and nominal GDP?

real GDP is adjusted for inflation, while nominal GDP is not

real GDP is accurate to thousands, while nominal GDP is accurate to millions

real GDP is current, nominal GDP is constant

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the best measure of a nation's standard of living?

real GDP

unemployment rate

real GDP per capita

inflation rate

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During the expansion phase of the business cycle real GDP is -

increasing

decreasing

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During the contraction phase of the business cycle real GDP is -

increasing

decreasing

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