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WorksheetsUnit 2 Macro Review
Total questions: 15
Worksheet time: 8mins
Name
Class
Date
1.
This is job loss due to a downturn in the business cycle
a)
Structural unemployment
b)
Seasonal unemployment
c)
Cyclical unemployment
d)
Frictional unemployment
2.
The gradual increase in prices which erodes the value of money
a)
Inflation
b)
Wage-price spiral
c)
Demand-pull inflation
d)
Cost-push inflation
3.
Changes in the weather or season result in this type of job loss
a)
Frictional unemployment
b)
Cyclical unemployment
c)
Structural unemployment
d)
Seasonal unemployment
4.
The cyclical rise and fall of the free market:
a)
Capitalism
b)
Business cycle
c)
Fiscal policy
d)
Monetary policy
5.
The stage of the economy's business cycle that marks the end of a trough; a period of growth
a)
Peak
b)
Trough
c)
Expansion
d)
Recession
6.
The system of banks that regulate the speed of the economy by controlling the money supply
a)
Fiscal policy
b)
Gross Domestic Product
c)
Monetary policy
d)
Federal Reserve
7.
Macroeconomics deals with
a)
Markets where goods and services are sold
b)
Decisions/choices made by individuals in regard to investments and spending
c)
Performance, structure, behavior, and decision making of a total economy
d)
Markets in which the governments do not controls the means and profits of production
8.
Money spent on capital goods or goods used in the production of capital, goods, and services
a)
Government spending
b)
Entitlements
c)
Consumer spending
d)
Investment spending
9.
The formula for CPI:
a)
C+I+G+(X-M)
b)
C+I+G+NE
c)
New price/base price x 100 -100
d)
New price/base price x 100
10.
The unemployment rate is
a)
Percentage of people not working and not currently looking for work
b)
Percentage of the population that is actively looking for work but can't find any
c)
Percentage of the population working but dissatisfied with their jobs
d)
Percentage of the population unemployed due to changes in the weather
11.
The total value of goods exported from the U.S. minus the cost of imports
a)
Trade deficit
b)
Imports
c)
Net exports
d)
Gross Domestic Product
12.
The extra money paid to a lender when someone takes out a loan
a)
Interest
b)
Entitlements
c)
Consumer spending
d)
Investment spending
13.
The total value of all goods and services moving through the economy at a given time
a)
Consumer Price Index
b)
Government spending
c)
Inflation
d)
Gross Domestic Product
14.
Who is the chairperson of the Federal Reserve?
a)
Ben Bernanke
b)
Jerome Powell
c)
Warren Buffet
d)
Janet Yellen
15.
If Caruso goes out and buys a new car, she is contributing to a _______ GDP
a)
Positive
b)
Negative
c)
There is no change
d)
Car purchases are not counted in the GDP
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