Macro Test

This is a measure of the value of all the goods and services produced within an area during a given period of time.

• Aggregate

• Gross Domestic Product (GDP)

• Inflation Rate

• Unemployment Rate

• GDP Annual Growth Rate

This is a measure of the number of people who are able to work and actively looking for work, but don't have a job.

• Aggregate

• Gross Domestic Product (GDP)

• Inflation Rate

• Unemployment Rate

• GDP Annual Growth Rate

The​ ​Consumer​ ​Price​ ​Index​ ​(CPI)​ ​can​ ​be​ ​defined​ ​as

• The​ ​market​ ​value​ ​of​ ​all​ ​final​ ​goods​ ​and​ ​services

• A​ ​measure​ ​of​ ​inflation​ ​based​ ​on​ ​the​ ​cost​ ​of​ ​a​ ​fixed​ ​“market​ ​basket”

Money loses its value when it

• It becomes too plentiful
• becomes too portabale
• is divisible
• is durable

The central bank in the USA that regulates the monetary system

• The Fed
• FDIC

Type of unemployment that occurs as a result of harvest schedules, vacations, or when industries make seasonal shifts in their production schedules.

• Seasonal Unemployment

• Structural Unemployment

• Frictional Uneployment

• Cyclical Unmeployment

Unemployment that rises during economic downturns and falls when the economy improves.

• Seasonal Unemployment

• Structural Unemployment

• Frictional Unemployment

• Cyclical Unemployment

Economic recovery begins-

• above the trend line

• at the end of a recession (trough)

• at the "boom" period

GDP will begin to decline at-

• the peak.

• the trough.

• the contractionary phase.

Which of the following is a peak?

• A

• B

• C

• D