Macro

What is a measure of our economy ?

• Gross Domestic Product (GDP)
• CPI

• PPI

• The FED

What does the GDP measure ?

• The total value of all goods and services produced over a specific time period within a country's borders
• The total value of all goods and services consumed within a country's borders
• The total value of all goods and services exported by a country
• The total value of all goods and services imported by a country

What type of GDP removes inflation ?

• Nominal GDP
• Gross GDP
• Real GDP
• Net GDP

What is the biggest component of GDP ?

• Government spending
• Net exports
• Investment
• Consumer spending

What is a measure of inflation ?

• Consumer Price Index
• Gross Domestic Product
• Unemployment Rate
• Interest Rate

What is the highest point of a business cycle ?

• Trough
• Expansion
• Peak
• Recession

What part of the business cycle does the GDP start to grow ?

• Expansion
• Peak
• Trough
• Recession

What part of the business cycle does the GDP start to fall ?

• Expansion
• Peak
• Recession
• Trough

What kind of unemployment would a farmer fall under ?

• Frictional unemployment
• Structural unemployment
• Cyclical unemployment
• Seasonal unemployment

What kind of unemployment happens when a person is layed off during a recession ?

• Frictional Unemployment
• Structural Unemployment
• Cyclical Unemployment
• Voluntary Unemployment