econ unit 3 review

econ unit 3 review

12th Grade

20 Qs

quiz-placeholder

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econ unit 3 review

econ unit 3 review

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

Christopher Wilkes

Used 12+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

What do businesses receive from households in the factor market?


income

revenue

resources

goods and service

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is measure to determine if economic growth has occurred?


Production cost


`

Unemployment rate


The value of the dollar


Real gross domestic product


3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to the Consumer Price Index (CPI), the economy is experiencing inflation.  Which economic goal is measured?


Price stability


Full employment


Economic growth


Economic efficiency


4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which type of unemployment is likely increasing during a recession?


cyclical

seasonal

structural

frictional

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Which part of the business cycle does the circled area represent?



contraction

expansion

peak

trough

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

For this question, choose TWO answers.  Which are of the following are roles of the Federal Reserve?


taxation

monetary policy

setting a budget

bank supervision

producing new coins

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How would the Federal Reserve stimulate the U.S. economy and reduce unemployment?


Increase interest rates


Decrease interest rates


Decrease the money supply


Increase the federal funds rate


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