AP MacroEcon Unit 2

AP MacroEcon Unit 2

12th Grade

32 Qs

quiz-placeholder

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AP MacroEcon Unit 2

AP MacroEcon Unit 2

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Andrew Billingsley

Used 4+ times

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32 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three goals of every economy?

To measure growth, reduce unemployment, and keep prices stable

To measure the health of the economy, fix the economy, and promote international trade

To measure GDP, calculate inflation, and implement fiscal and monetary policy

To measure the health of the economy, reduce unemployment, and promote international trade

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is GDP?

The dollar value of all final goods produced in a country's border in a given year

The dollar value of all goods and services produced in a country's border in a given year

The dollar value of all intermediate goods produced in a country's border in a given year

The dollar value of all goods and services consumed in a country's border in a given year

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not included in GDP?

Intermediate goods

Non-production transactions

Use goods

Illegal transactions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the labor force participation rate?

The percentage of the total population that is employed

The percentage of the labor force that is unemployed

The percentage of the total population that is in the labor force

The percentage of the labor force that is not in the labor force

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is considered frictionally unemployed?

People who are between jobs

People who do not have the right skills

People who are unemployed due to a recession

People who have given up looking for work

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the natural rate of unemployment?

The rate of unemployment during a recession

The rate of unemployment when the economy is at full employment

The rate of unemployment due to people between jobs

The rate of unemployment due to people not having the right skills

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is not counted as unemployed?

Discouraged workers

Part-time workers

People who have given up looking for work

People who want more hours but are part-time

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