
Econ Test Review 11/10/22
Authored by Santiago Nava
Social Studies
9th - 12th Grade
Used 1+ times

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34 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
GDP measures
Input
Output
Weather
None of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unemployment Rate is
the measurement of company stocks
measure % that prices are changing
determined by CPI
measures % of people unemployed
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Gross Domestic Product? Why is this calculated?
Dollar amount of final goods and services produced in a country’s border in a year. To measure economic growth.
Multiply all final goods & services sold by their prices.
Consumer spending
Rise in general price levels. Caused by too much money.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate the dollar amount for GDP?
Multiply all final goods & services sold by their prices.
The money supply would increase.
Member banks
Dollar amount of final goods and services produced in a country’s border in a year. To measure economic growth.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What areas are not counted when calculating GDP?
Second hand sales
intermediate goods
non-market transactions
All the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the output expenditure model used in GDP?
GDP = G/I+C
GDP = C-I-G
GDP = C+I+G+ (x-m)
GDP/(x-m) + C
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which sector of spending is the largest one in the last formula?
Consumer spending
Imports
Outputs
Inflation
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