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Econ Unit 3: Economic Performance

Authored by Alicia Szymonik

Social Studies

9th - 12th Grade

Used 25+ times

Econ Unit 3: Economic Performance
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9 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"The amount in dollars of all final goods and services produced in a country in a year" is a definition of

Gross Domestic Product

Gross National Product

Consumer Price Index

Internal Revenue Service

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Gross domestic product (GDP) includes products produced by American companies outside of the U.S.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inflation is an indication of:

a general increase in all prices of goods and services

a general decrease in all prices of goods and services

an increase in a country's budget deficit

an increase in exports to other countries

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Gross Domestic Product (GDP) has a number of uses. Check all the following that apply to GDP:

It is used to estimate a country's production of goods and services

It is used to measure a country's economic growth.

It is used to compare the economies of different countries.

It is used to compare the quality of life of people in a country.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Consumer Price Index (CPI) is used to measure:

the rate of inflation

a country's economic growth

interest rates

unempoyment

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the Consumer Price Index (CPI)?

It tracks the changes in prices of a selection of goods and services from year to year

It is the average cost of all goods and services that are bought in a year

It is the value of all goods and services produced in a country in one year.

It tracks the changes in prices of all imports that are sold in a country in one year.

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

High inflation causes:

people to spend less money

interest rates on loans to go up

people to spend more money

an increase increase in people taking out loans

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