What is the primary measure of a country's economic output or production?

• Consumer Price Index (CPI)

• Unemployment Rate

• Gross Domestic Product (GDP)

• Inflation Rate

Which of the following represents the overall price level of goods and services in an economy?

• GDP

• Consumer Price Index (CPI)

• Business Cycle

• Unemployment Rate

During an economic expansion phase of the business cycle, which of the following indicators is likely to be at its highest point?

• Unemployment Rate

• Inflation Rate

• GDP

• Interest Rate

When the unemployment rate is low, it typically indicates:

• A trough in the business cycle

• High inflation

• A recession

• Strong Economic Growth

Which macroeconomic indicator reflects the percentage of the labor force that is actively seeking employment but cannot find a job?

• Inflation Rate

• Consumer Price Index (CPI)

• Unemployment Rate

• GDP

During a recession, which of the following is most likely to occur?

• Rising GDP

• Falling unemployment rate

• Decreasing inflation

• Decreasing consumer spending

Which macroeconomic indicator measures the average change in prices for a basket of consumer goods and services over time?

• Business Cycle

• GDP

• . Consumer Price Index (CPI)

• Unemployment Rate

Inflation is characterized by:

• Low consumer spending

• An increase in the general price level

• A stagnant economy

• Falling prices of goods and services

During the peak phase of the business cycle, what is likely to happen to GDP?

• It will increase rapidly

• It will decrease significantly

• It will remain stable

• It will fluctuate unpredictably

What macroeconomic indicator helps economists determine the overall health of an economy and its position in the business cycle?

• GDP

• Unemployment Rate

• Consumer Price Index (CPI)

• Business Cycle Index