Unit 3: Macroeconomics Test

Unit 3: Macroeconomics Test

12th Grade

20 Qs

quiz-placeholder

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Unit 3: Macroeconomics Test

Unit 3: Macroeconomics Test

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Lester Weaver

Used 234+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Output-Expenditure Model

GDP = Consumer C + Investment I + ? + Exports & Imports (X-M)

Demand - D

Taxes - T

Product - P

Government - G

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The largest sector of the macroeconomy is the

investment sector

government sector

foreign sector

consumer sector

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Gross domestic product after adjustments for inflation is known as

Real GDP

GDP Per Capita

National GDP

Current GDP

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

A U.S. business buys new computers for its office workers from a U.S. computer manufacturer. The value of the transaction would be included in which category in the graph?

Consumer sector

Investment sector

Government sector

Net Exports

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

GDP = C + I + G + (X-M)

In this model, the “(X-M)” represents the

Total of the dollar value of goods sent abroad and goods purchased from abroad

Difference between the dollar value of goods sent abroad and goods purchased from abroad

Total investments in the United States by foreign nationals

Total investments in other nations by US citizens

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The business cycle since World War II has been characterized by

extended expansions alternating with brief recessions

brief expansions alternating with lengthy recessions

uninterrupted expansion

uninterrupted recession

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Unemployment that is directly related to swings in the business cycle is

frictional

unemployment

structural

unemployment

cyclical

unemployment

seasonal

unemployment

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