Econ Module 4 Quiz

GDP is used to measure

• Unemployment

• Inflation

• Economic Growth

• Debt

The unemployment rate measures

• The total number of people without a job

• The number of people unemployed looking for a job

• The number of people unemployed not looking for a job

At which point is the economy at the lowest point of the business cycle?

• Peak

• Contraction/Recession

• Trough

• Expansion/Recovery

At which point in the business cycle is a country at its highest point?

• Peak

• Contraction/Recession

• Trough

• Expansion/Recovery

Periods of negative economic growth are called?

• Recessions

• Expansions

• Recovery

• Inflation

The consumer price index measures

• Economic Growth

• Unemployment

• Inflation

• GDP

Which of the following is an example of cost-push inflation?

• A hurricane causes the price of gas to rise

• People begin to buy more stuff at Christmas

• The housing market starts booming

• Consumer spending falls

You lost your job due to Covid. What type of unemployment are you?

• Frictional

• Structural

• Cyclical

You quit one job to look for another one. What type of unemployed are you?

• Frictional

• Structural

• Cyclical

You lost your job at a car factory when you were replaced by a robot. What type of unemployed are you?

• Frictional

• Structural

• Cyclical