Economics GDP and Business Cycles

Economics GDP and Business Cycles

12th Grade

22 Qs

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Economics GDP and Business Cycles

Economics GDP and Business Cycles

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Richard Levy

Used 98+ times

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22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is NOT a cause of inflation

higher resources costs

aggregate demand increasing faster than productive capacity

price expectations

unemployment

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The producer price index measures the average change in price during a time period of raw materials bought by producers.

True

False

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which is the formula to determine Gross Domestic Product?

Consumption + Business costs + Government Expenditures + Net exports/imports

Consumption + Investment + Government Expenditures + Net exports/imports

National Income + Investment + Gov. Exp. + Net exports/imports

Consumtption + Investment + Gov. Exp. + Exports

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is Real GDP mean?

GDP expressed in today's dollars

GDP divided by everyone in the country

GDP adjusted for price changes from a base year.

Net national product plus gross domestic income

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of these is correct about population in the U.S.

our population is getting younger on average

the center of the nation's population has been moving eastward since colonial times

More and more people are moving to the countryside

Our population is growing at a fairly low rate

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

GDP does not include

sales of used cars

business investment

government expenditures

niether exports nor imports

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The U.S. has the largest GDP in the world, except for China.

true

false

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