Macro Vocab Practice

Macro Vocab Practice

12th Grade

18 Qs

quiz-placeholder

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Macro Vocab Practice

Macro Vocab Practice

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

John Williams

Used 1+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the total value of all final goods & services produced within a country's borders in a given year called?

Macroeconomics

Gross Domestic Product (GDP)

Economic Growth

Consumer Spending

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What term describes the study of economics of a nation as a whole?

Macroeconomics

Gross Domestic Product (GDP)

Economic Growth

Consumer Spending

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of unemployment occurs when workers are looking for or are between jobs?

Full Employment

Unemployment Rate

Structural Unemployment

Frictional Unemployment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a recurring pattern of growth and decline in economic activity over time known as?

Business Cycle

Recession

Recovery

Contraction

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the measure of the value of economic output adjusted for inflation?

Monetary Policy

Fed Dual Mandate

Real GDP

Nominal GDP

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic indicator measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services?

Gross Domestic Product (GDP)

Consumer Price Index (CPI)

Unemployment Rate

Real GDP

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What term is used to describe the decrease in the purchasing power of money, reflected in a general increase in the prices of goods and services in an economy?

Deflation

Inflation

Stagflation

Hyperinflation

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