ECON Unit 3 Review - Monetary Policy

Which of the following is NOT an economic indicator used to measure economic growth?

• Gross Domestic Product

• Consumer Price Index

• Monetary Policy

• Unemployment

Who is in charge of calculating these economic indicators?

• Bankers

• Congress

• The FED

• Statisticians

The total value of goods and services produced in a country within a given year refers to...

• Unemployment

• Consumer Price Index

• Gross Domestic Product

• Monetary Policy

All of the following are included in GDP EXCEPT...

• Finished Products

• Thrift Store Items

• Customer Service

• Natural Resources

All of the following are the four sectors of spending that make up GDP EXCEPT...

• Consumer

• Foreign

• Investor

• Market Basket

• Government

According to the image, which spending sector makes up the largest portion of GDP?

• Investor

• Government

• Consumer

• Foreign

This formula used to calculate GDP is called the...

• Input Expenditure Model

• Revenue Formula

• Output Expenditure Model

• GDP formula

This image is referring to the _______________________

Which point represents a Recession in the economy?

• A

• B

• C

• D

Which point represents expansion in the economy?

• A

• B

• C

• D