WorksheetsIntro 2 Bus Ch3
Total questions: 12
Worksheet time: 6mins
Name
Class
Date
1.
The total value of the goods and services produced in a country in a given year
a)
Gross domestic product (GDP)
b)
Inflation
c)
Deflation
d)
Standard of living
2.
The level of material comfort as measured by the goods and services that are available
a)
Standard of living
b)
Recession
c)
Depression
d)
Prosperity
3.
A general increase in the cost of goods and services
a)
Recession
b)
Inflation
c)
Gross domestic product (GDP)
d)
Profit
4.
A general decrease in the cost of goods and services
a)
A general decrease in the cost of goods Gross domestic product (GDP)
b)
Inflation
c)
Deflation
d)
Recession
5.
When the government spends ore on programs than it collects in taxes
a)
Recession
b)
Budget surplus
c)
National debt
d)
Budget deficit
6.
The total amount of money a government owes
a)
National debt
b)
Budget deficit
c)
Depression
d)
Recession
7.
A situation in which a government's revenue exceeds its expenditures during a one-year period
a)
Inflation
b)
Profit
c)
Budget Deficit
d)
Budget Surplus
8.
The rise and fall of economic activity over time
a)
Recession
b)
Business cycle
c)
Recovery
d)
Economic system
9.
A peak of economic activity
a)
Prosperity
b)
Inflation
c)
Recovery
d)
Deflation
10.
A slowdown of economic activity
a)
Inflation
b)
Deflation
c)
Recovery
d)
Recession
11.
A deep recession that affects the entire economy and lasts for several years
a)
Inflation
b)
Recession
c)
Depression
d)
Deflation
12.
A rise in business activity after a recession or depression
a)
Business cycle
b)
Inflation
c)
Recovery
d)
Prosperity
100 %
