Final review Grade 11

The point in the business cycle where in the employer will lay off employees to cut expenses.

• Peak/Boom

• trough

• expansion

• recession

It is the key element within salary system.

• pay structure

• union

• workforce

• productivity

A type of unemployment associated with the up and down fluctuations in the business cycle.

• cyclical

• structural

• seasonal

• frictional

It refers to a situation in which the workers who are capable of working and willing to work does not get a job.

• inflation

• unemployment

• fluctuation

• scarcity

This type of inflation states that the prices rise as the result of excessive business and consumer demand.

• cost-push

• demand-pull

• demand-push

• cost-pull

It means goods that has loss their value.

• inflation

• GDP

• unemployment

• Depreciation

The exchange of goods, property, services, etc. for other goods, etc. without using money.

• barter

• money

• purchase

• credit

Which of the following is NOT a function of money?

• Money as a medium of exchange

• Money as a store of value

• Money as a unit of accounting

• Price mechanism

They are the one who first made and used coins as a medium of exchange.

• Chinese

• Lydians

• Syrians

• Americans

It is used to measure the country’s inflation.

• Gross Domestic Product

• Consumer Price Index

• NDP

• Gross National Product