
Econ Unit 5 FA Dummy 1, 2025-26
Authored by Adam Berkowicz
Social Studies
9th - 12th Grade

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42 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A news article reports that GDP rose sharply due to a rise in prices, even though production stayed the same. Which GDP figure is most likely being reported?
Nominal GDP
Real GDP
GDP per capita
Gross National Product
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Two countries had the same level of production, but one experienced higher inflation. Which country will likely show a higher Nominal GDP?
The one with more stable prices
The one with higher inflation
Both will show equal Nominal GDP
The one with higher exports
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economist is comparing two years of GDP data and chooses not to adjust for inflation. What type of GDP is being used in this comparison?
Nominal GDP
Real GDP
Structural GDP
Balanced GDP
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term refers to a general increase in prices and a decrease in the purchasing value of money?
Recession
Inflation
Deflation
Stagnation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inflation is best described as:
A decrease in government spending over time
A drop in the cost of borrowing money
A rise in prices and a fall in money’s value
A steady increase in employment rates
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best defines inflation?
A consistent rise in national output
A fall in overall employment rates
A general rise in prices with declining money value
A sudden drop in interest rates
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for a situation where prices rise and the value of money declines over time?
Deflation
Recession
Inflation
Recovery
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