Economic Indicators and the Business Cycle

Economic Indicators and the Business Cycle

9th - 12th Grade

25 Qs

quiz-placeholder

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Economic Indicators and the Business Cycle

Economic Indicators and the Business Cycle

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Kristen Bibb

Used 70+ times

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25 questions

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1.

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.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Caleb takes a job selling cars.  In six months he is laid off due to a slowing economy and poor car sales.  What type of unemployment is Caleb experiencing?

frictional
structural
seasonal
cyclical

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If you live on a fixed income, how will you be affected by inflation.

You are hurt because your purchasing power has decreased.
You are helped because your purchasing power has increased.
You are helped because interest rates rise.
You are hurt because interest rates rise.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The "market basket" that is a list of the prices of items purchased by an average consumer is known as the

unemployment rate
consumer price index
producer price index
economic growth rate

5.

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.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inflation is measured by the:

GDP
Unemployment rate
CPI
GNP

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is when a person becomes unemployed because they do not have the skills they need to find a job:

frictional
seasonal
structural
cyclical

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