
AP Macroeconomics Unit 2 Review
Authored by Christopher Muniz
Social Studies
12th Grade
Used 7+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does GDP stand for?
Gross Domestic Product
Gross Domestic Performance
General Domestic Product
General Domestic Performance
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the expenditures approach to measuring GDP include?
Value added at each stage of production
All of the above
Consumer spending, investment, government spending, and net exports
Wages, rent, interest, and profit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT included in GDP calculations?
Consumer spending
Investment by businesses
Intermediate goods
Government spending
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the circular flow model illustrate?
The calculation of GDP
The process of inflation
The interaction between households and businesses
The flow of financial resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a limitation of GDP as an economic measure?
It does not account for non-market transactions
It counts intermediate goods
It overestimates the value of digital goods
It includes illegal transactions
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of unemployment is due to the economic recession?
Structural unemployment
Natural unemployment
Frictional unemployment
Cyclical unemployment
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the natural rate of unemployment?
The rate when cyclical unemployment is zero
The rate including only structural unemployment
0%
The rate including only frictional unemployment
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