Economic Indicators

What is an economic indicator?

• A sum that describes how much money a person makes

• A statistic about an economic activity

• An amount that shows how much a country produces

• An amount that shows how much a country trades

True or False: We care about economic indicators because they tell us how healthy the economy is.

• True

• False

GDP (Gross Domestic Product) tells us

• How much prices rise for all products

• How valuable resources are for a country

• The value of all the goods and services a country produces during a given period of time

• How much a nation trades with foreign countries

True or False: When calculating GDP, you can count both raw materials and the finished product.

• True

• False

In the past 10 years, the U.S. GDP has been

• decreasing

• increasing

When the GDP is increasing, it is a sign of a _____ economy.

• shrinking

• growing

• troubled

• stagnant

The _______ indicator tell us how many people do not have a job that are able to work and actively looking for a job.

• GDP

• Inflation

• Spending

• Unemployment

Unemployment rate shows a healthy economy when it is

• high

• low

True or False: People who are temporarily laid off and are waiting to be called back to that job are also included in unemployment statistics.

• True

• False

During the month of April 2020, the U.S. is hitting record numbers of people filing for unemployment. What is the highest number reported?

• 1 million

• 3.4 million

• 6.6 million

• 16 million