AP MacroEcon Unit 2
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
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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