Economic Indicators

Economic Indicators

3rd Grade

10 Qs

quiz-placeholder

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Economic Indicators

Economic Indicators

Assessment

Quiz

Business

3rd Grade

Practice Problem

Medium

Created by

Ian Mylod

Used 3+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Gross domestic product is equal to the market value of all final goods and services:

exchanged during a period.
produced domestically during a period.
produced by the citizens of a nation during a period.
produced domestically during a period minus the depreciation of productive assets.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Inflation is defined as an increase in:

real wages of workers.
real GDP.
the average price level.
all consumer products.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What usually happens to inflation during a recession?

it stays the same
it increases
it decreases
it is zero

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is consumer spending an important economic indicator?

can be an indicator for an individual business’s economic growth

consumer spending is not an economic indicator

Consumer spending tells how much a person makes

Consumer spending can be an indicator for what company a persons works for.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross Domestic Product includes the market value of all FINAL goods and services produced within a country during a given period of time.

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is happening to the economy in a period of economic contraction?

GDP is rising and unemployment is falling.
GDP is rising and unemployment is rising.
GDP is falling and unemployment is rising.
GDP is falling and unemployment is falling.

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Who would benefit from inflation?

Michael, a banker who has extended many fixed rate loans.
Trenton, who has a fixed, contracted salary with no COLA.
Emily, who took out a loan at a low fixed-interest rate.
Kennedy, a businessman whose costs are rising.

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