Measuring the Economy, Labor, & Globalization Review

Measuring the Economy, Labor, & Globalization Review

12th Grade

52 Qs

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Measuring the Economy, Labor, & Globalization Review

Measuring the Economy, Labor, & Globalization Review

Assessment

Quiz

Social Studies

12th Grade

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Created by

The Coach Williams

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52 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To measure the health of an economy, people look at the symptoms or indicators used to measure the health of an economy. The 3 main indicators include all of the following except;

Gross Domestic Product

Imflation/ Consumer Price Index

Unemployment

Average Income Level

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross Domestic Product includes the market value of all FINAL goods and services produced within a country during a given period of time.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

According to this image, the United States exported 200 billion in goods and services, and imported 150 billion. This category is what part of GDP?

Household Consumption/ C

Business Investment/ I

Government Purchases/ G

Net Exports/ NX

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Business Cycle measures ___ over time.

wealth

inflation

economic growth

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The business cycle is made up of how many phases?

5

4

3

2

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP declines during a(an)

peak

contraction

expansion

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The business cycle rises above the trendline during-

rescessions

expansions

troughs

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