GDP, Unemployment, & Inflation

GDP, Unemployment, & Inflation

10th - 12th Grade

36 Qs

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GDP, Unemployment, & Inflation

GDP, Unemployment, & Inflation

Assessment

Quiz

Social Studies

10th - 12th Grade

Easy

Created by

Corinne Powers

Used 4+ times

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36 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the best measure of a nation's standard of living?

real GDP per capita

population growth

savings

national income

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is the following is included in GDP?

an intermediate good

a service produced and used in another country

a fish that you catch and eat yourself

a fish that you buy at a store

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a farm worker loses his job after the harvest, it is an example of

Frictional unemployment

Seasonal unemployment

structural unemployment

cyclical unemployment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement describes full employment?

Everybody who wants a job has a job

There is no unemployment at all

There is no cyclical unemployment

There is no structural unemployment

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A general increase in prices is called

inflation

purchasing power

the CPI

a price index

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People who underemployed

no longer look for work

work part time or at jobs that are below their skills

are the same as unemployed workers

experience only frictional employment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The inflation rate is

the ability to buy goods or services

measured in fixed dollars

not an important measure to economists

the percentage change in prices over time

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