
Macro Review
Authored by Michael Crotty
Social Studies
11th - 12th Grade
Used 4+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If something is measured in "real" terms, it accounts for:
Inflation
Interest
GDP
No drama
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As the price of goods increases due to inflation, what happens to the purchasing power of your money?
It increases
It decreases
It stays the same
Hyperinflation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Consumer Price Index (CPI) is used to calculate the rate of inflation, and measures ________.
the prices of food and rent only.
Index funds in the stock market.
the rate of interest.
the prices of a basket of products purchased by the average consumers of a country.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these situations would be "frictional" unemployment?
Student just graduated from school and is taking a few weeks to find the right job.
Robots have replaced your job and you need to return to school.
A huge recession has happened and a lot of people were laid off.
All of the above.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following are calculated in Gross Domestic Product (GDP)?
Consumer spending
Government spending
Investment spending
All of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross Domestic Product (GDP) measures _______.
The distribution of goods and services across a country's population
The level of employment in a country
The total value of all goods and services produced in a country in a specific period of time (usually a year)
The general price level in a country
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
37 year old "discouraged worker", who has given up looking for work after months of trying and failing to find employment.
Employed
Unemployed
Not in the Labor Force
Underemployed
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