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Understanding Economic Indicators Quiz

Authored by Mathew Owen

Financial Education

10th Grade

Used 6+ times

Understanding Economic Indicators Quiz
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of an Economic Indicator?

A statistic used to gauge the health of an economy.

A tool used to predict weather patterns.

A method for calculating taxes.

A system for managing public transportation.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for?

Gross Domestic Product

General Domestic Policy

Global Development Plan

Government Debt Payment

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a phase of the Business Cycle?

Peak

Contraction

Inflation

Recovery

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the acceptable rate of unemployment?

1-2%

3-5%

6-8%

9-10%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a natural cause of unemployment?

Cyclical

Seasonal

Frictional

All of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of Minimum Wage?

The lowest amount an employer can legally pay an employee.

The average salary of a worker in a country.

The highest salary an employee can earn.

The amount of money needed to live comfortably.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a pro of Minimum Wage?

It increases unemployment.

It reduces poverty.

It decreases inflation.

It lowers productivity.

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