Economic Terms Quiz

Economic Terms Quiz

12th Grade

80 Qs

quiz-placeholder

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Economic Terms Quiz

Economic Terms Quiz

Assessment

Quiz

Business

12th Grade

Hard

Created by

Matt Williams

Used 2+ times

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80 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for in economic terms?

General Demand Product

Gross Domestic Product

Government Debt Percentage

Generalized Data Protocol

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is meant by Nominal GDP?

It measures GDP adjusted for inflation.

It is the total value of goods produced.

It measures the monetary value of GDP including inflation effects.

It is a measure of GDP per capita.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is Real GDP different from Nominal GDP?

Real GDP measures GDP including inflation effects.

Real GDP measures GDP adjusted for inflation effects.

Real GDP is the total economic output without considering population.

Real GDP is only calculated annually.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the rate of economic growth measure?

The change in GDP per capita over time.

The annual or quarterly percentage change in real GDP.

The total monetary value of GDP.

The sustainability of economic growth.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a requirement for sustainable economic growth?

High inflationary growth

Environmental sustainability

Decrease in GDP

Short-term economic planning

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the graph, what was the economic growth rate in the UK in Q2 2014?

0.7%

2.8%

1.0%

-0.5%

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is considered a primary economic objective of most governments to enhance living standards and employment?

Increasing national defense spending

Sustainable economic growth

Expanding government surveillance

Reducing technological innovation

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