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EPF Final Unit 2 Review

Authored by Angela Chambers

Social Studies

11th Grade

Used 7+ times

EPF Final Unit 2 Review
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60 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During this.... GPD increased over two quarters of the year

peak

Decline

Expansion

trough

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a tariff?

A tariff is a regulation on domestic production so that inflation can be controlled.

A tariff is a subsidy for local businesses to help with production and jobs.

A tariff is a type of trade agreement between countries that blockades outsiders.

A tariff is a tax that is imposed by one country on the goods and services imported from another country.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a trough in the business cycle?

The trough represents a stable economy with no fluctuations.
The trough is the lowest point in the business cycle, indicating a period of economic decline before recovery begins.
The trough is the peak of economic growth in the business cycle.
The trough is a period of rapid expansion and growth in the economy.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What part of the business cycle might you see a contraction in three consecutive quarters, GPD fell compared to the last year and estimates say it will continue to contract in the 4th quarter?

Boom
Stagnation
Recession
Expansion

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a high unemployment rate sustained over a long period of time affect the economy?

It creates more job opportunities in the market.

It leads to a decrease in the amount of currency circulating in the economy.

It leads to increased consumer spending putting more money into the economy.

It boosts overall economic confidence and leads the country into a boom.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is per capita Real Gross Domestic Product?

Per capita Real Gross Domestic Product is the average economic output per person, adjusted for inflation.
Per capita Real Gross Domestic Product is the total economic output of a country.
Per capita Real Gross Domestic Product is the total population divided by the GDP of a country.
Per capita Real Gross Domestic Product measures the wealth of a nation without adjusting for inflation.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the best measurement that indicates economic growth of a country?

Per capita Unemployment Rate

Real per capita Inflation Rate

Real per capita Gross Domestic Product (GDP)

Fiscal Policy increasing and increasing trade Balance

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