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Macro Economics Vocabulary Pre-Test

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

Currency Value of all final goods and services produced within a country's borders.

a)

GDP

b)

Inflation

c)

Aggregate Demand

d)

Imports

2.

Currency value of all final goods and services produced within a country's borders minus the effects of inflation

a)

GDP

b)

Real GDP

c)

Investment

d)

Consumption

3.

A general rise in the price level of an economy

a)

Real GDP

b)

Standard of Living

c)

Inflation

d)

Aggregate Supply

4.

Dollar value of all goods and services purchased by households.

a)

Investment

b)

Consumption

c)

Government Spending

d)

Net Exports

5.

Dollar value of all goods and services purchased by business for the purpose of using in their business.

a)

Aggregate Supply

b)

Exports

c)

Government Spending

d)

Investment

6.

Dollar value of all goods and services purchased by the various agencies of the United States.

a)

Government Spending

b)

GDP Per Capita

c)

Imports

d)

Exports

7.

Dollar value of all goods and services produced in the United States and shipped to other countries MINUS the value of the goods and services imported from other countries.

a)

Standard of Living

b)

Inflation

c)

Net Exports

d)

Consumption

8.

The amount of goods and services ALL buyers in the economy are willing/able to buy at all the possible price levels.

a)

Aggregate Supply

b)

Aggregate Demand

c)

Investment

d)

GDP

9.

The amount of goods and services ALL buyers in the economy are willing/able to sell at all the possible price price levels.

a)

Aggregate Supply

b)

Aggregate Demand

c)

Consumption

d)

Investment

10.

Currency value of all final goods and services produced within a country's borders divided by the population.

a)

Standard of Living

b)

Real GDP

c)

Exports

d)

GDP Per Capita

11.

Goods and services produced in other countries, then brought to the United States in exchange for currency.

a)

Exports

b)

Imports

c)

GDP

d)

Investment

12.

Goods and services produced in the United States, then sent to other countries in exchange for currency.

a)

Exports

b)

Imports

c)

GDP

d)

Investment

13.

Intangible concept that seeks to represent a country's level of economic prosperity. Correlates with GDP Growth

a)

Standard of Living

b)

GDP Per Capita

c)

Real GDP

d)

GDP