Economics Unit 3 test

Economics Unit 3 test

9th - 12th Grade

17 Qs

quiz-placeholder

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Economics Unit 3 test

Economics Unit 3 test

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

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.

Ms. Zgabay buys milk at the store.

Investment

The farmer sells his milk to a customer in Canada.

Consumption

The Department of Transportation maintains the roads that transport dairy.

Government spending

A farmer buys a dairy cow.

Net exports

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.

a
b
c
d
Trough
Peak
Expansion
Contraction

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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