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Unit 5 Economics Quiz

Authored by Carrie Smolinski

Business

9th Grade

Unit 5 Economics Quiz
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Consumer Price Index (CPI) evaluate?

Change in wholesale prices

Economic growth among nations

Monthly price changes in consumer goods and services

Federal Reserve policy decisions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of frictional unemployment?

A factory closes due to a recession

A worker leaves their job to find a better opportunity

A farmworker loses their job after harvest season

A company automates its production line

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of competition involves many competitors selling virtually identical products?

Oligopoly

Monopolistic competition

Monopoly

Pure competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What defines a mixed economy?

Complete public ownership of resources

Full privatization of industries

Combination of planned and market systems

Equal government and private sector control

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which tool does the Federal Reserve use to control money supply?

Privatization

Discount rate

Price indexes

Unemployment rates

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens during hyperinflation?

Prices decrease significantly

Inflation exceeds 50% monthly

Economic growth stagnates

The GDP falls for two consecutive quarters

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a socialist economy, who owns key enterprises?

Private individuals

Non-profit organizations

The government

Global corporations

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