GDP/Business Cycle
Quiz
•
Social Studies
•
12th Grade
•
Hard
Karen Lewis
FREE Resource
Enhance your content in a minute
30 questions
Show all answers
1.
DRAG AND DROP QUESTION
1 min • 1 pt
What are the two parts of economics?
(a)
Supply and demand
Gross Domestic Product and unemployment
Inflation and interest rates
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the three economic goals of policy makers?
Economic growth, low unemployment, and stable prices
High inflation, high interest rates, and high taxes
Government control, income inequality, and international trade
Consumer spending, business investment, and government spending
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Gross Domestic Product (GDP)?
The value of all final goods and services produced within a country's border in a specific period of time
The total amount of money in circulation within a country
The total value of a country's exports minus imports
The amount of money earned by the government through taxes
4.
DRAG AND DROP QUESTION
1 min • 1 pt
What does Real GDP represent?
(a)
GDP measured in raw number of things produced
GDP including illegal activities
GDP including household production
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the business cycle?
The expansion and contraction of an economy over time
The fluctuation of interest rates in the stock market
The rise and fall of consumer spending
The increase and decrease of government debt
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
John went to Sports Clips and purchased a haircut. Where would this show up in the GDP formula?
Consumption (Consumer)
Investment (Business)
Government Spending
Exports-Imports
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If GDP falls for at least 2 Quarters, it is considered what stage of the business cycle?
Expansion
Recession
Prosperity
Recovery
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