Economics Unit 3 test
Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
Rachel Zgabay
Used 14+ times
FREE Resource
17 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What is the main economic indicator that economists look at to analyze the state of a nation's economy?
Net National Product
Gross National Income
Greater Domestic Production
Gross Domestic Product
2.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
What is the formula to calculate GDP? (no spaces)
3.
MATCH QUESTION
3 mins • 4 pts
Match the following expenses to their correct categories.
A farmer buys a dairy cow.
Government spending
Ms. Zgabay buys milk at the store.
Investment
The Department of Transportation maintains the roads that transport dairy.
Net exports
The farmer sells his milk to a customer in Canada.
Consumption
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which type of GDP does not account for rising costs or inflation?
Real
Nominal
Calculated
Approximate
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which of these would not be included in America's GDP calculations?
Fabrics made in China and sold in Texas
Computers made in the USA and sold in Canada
A professional nanny that reports income to the IRS
Home repairs that you hire someone to complete at your house
6.
LABELLING QUESTION
3 mins • 4 pts
Label each stage of the business cycle correctly.
7.
FILL IN THE BLANK QUESTION
3 mins • 1 pt
The United States has been able to avoid entering a stage of ________, which is six months in a row of a declining GDP.
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