Unit 4 Econ Review

Which of the following forms of money is referred to as an object that has value in and of itself that can be used as money?

• Commodity Money

• Token Money

• Representative Money

• Fiat Money

How many regional Federal Reserve Banks exist in the US?

• 5

• 7

• 12

• 15

How many people serve on the Federal Reserves Board of Governors?

• 5

• 7

• 12

• 15

Which of the following is NOT an expenditure of GDP?

• Consumer Expenditure

• Government Expenditure

• Military Expenditure

• Investment Expenditure

Which of the following is NOT one of the 4 forms of unemployment discussed in class?

• Seasonal Unemployment

• Frictional Unemployment

• Cyclical Unemployment

• Discouraged Unemployment

Which of the following answers best represents the dollar value of all final goods and services produced within a country’s borders in a given year?

• Inflation

• Unemployment

• Business Cycle

• GDP

When it comes to GDP, a farmer purchasing a new tractor for their farm would fall under which category of expenditures?

• Consumer Expenditures

• Investment Expenditures

• Government Expenditures

• Net Exports

When it comes to GDP, you going to the store to purchase cereal would fall under which expenditure?

• Consumer Expenditure

• Investment Expenditure

• Government Expenditure

• Net Exports

When it comes to GDP, the United States sells airplanes to China.

• Consumer Expenditure

• Investment Expenditure

• Government Expenditure

• Net Exports

This type of unemployment occurs when a worker's skills do not match those needed for the jobs anymore.

• Frictional Unemployment

• Structural Unemployment

• Seasonal Unemployment

• Cyclical Unemployment