Economic Measurements and Indicators

Economic Measurements and Indicators

11th - 12th Grade

19 Qs

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Economic Measurements and Indicators

Economic Measurements and Indicators

Assessment

Quiz

Social Studies, Business

11th - 12th Grade

Practice Problem

Hard

Created by

Kenneth Reed

Used 45+ times

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19 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

GDP counts the _____ of goods and services produced in a country.

dollar value

quantity amount

quality value

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following products would NOT be counted towards GDP?

A lawn service

A bag of Doritos

Steel used in the production of cars

Concert tickets

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Home construction begins November 2019. Construction is completed November 2020. It is sold February 2021. What year will the value of the home be calculated into GDP?

2019

2020

2021

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements is false?

If a good is produced in the United States and sold in the United States, it's included in the U.S. GDP.

If a good is produced in the United States and sold in another country, it's included in the U.S. GDP.

If a good is produced in another country, and sold in the United States, it is included in the U.S. GDP.

If a good is produced in another country, and sold in the United States, it is not included in the U.S. GDP.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A series of increasing and decreasing levels of economic activity is known as

natural economic behavior.

Gross Domestic Product.

real GDP.

the business cycle.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a phase in the Business Cycle?

Peak

Expansion

Recession

Boom

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bob gets laid off from work because his job implemented new machines that can do his job more efficiently. This is an example of why type of unemployment?

Structural

Cyclical

Frictional

Seasonal

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