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WorksheetsEconomic Growth, Inflation & Unemployment
Total questions: 18
Worksheet time: 9mins
The total value of all final goods and services produced in a country in a given year.
Gross Domestic Product
Consumer Price Index
Inflation
Unemployment
Economic growth measures the
a) Growth of productivity
b) Increase in nominal income
c) Increase in national output
d) None of the above
A price index determined by measuring the price of a standard group of goods meant to represent the market basket of a typical consumer.
Customer Purchasing Index
Consumer Price Index
Consumer Policy Index
Inflation
A sustained general increase in prices across an economy.
Disinflation
Consumer Price Index
Deflation
Inflation
The percentage of a nations labour force that is unemployed.
Balance of Employment
Balance of Payments
Unemployment
Employment
Type of unemployment that occurs as a result of harvest schedules, or when industries make seasonal shifts in their production schedules.
Seasonal Unemployment
Structural Unemployment
Frictional Unemployment
Cyclical Unemployment
Type of unemployment that occurs when workers skills do not match those needed for the jobs available.
Seasonal Unemployment
Structural Unemployment
Frictional Unemployment
Cyclical Unemployment
Unemployment that rises during economic downturns and falls when the economy improves.
Seasonal Unemployment
Structural Unemployment
Frictional Unemployment
Cyclical Unemployment
A period of macroeconomic expansion or growth, followed by a period of contraction, or decline.
Business Cycle
Circular Flow
Equilibrium
GDP
The rate of growth of an economy mainly depends upon
a) The rate of growth of the labour force
b)The proportion of national income saved and invested
c) The rate of technological improvements
d) All of the above
In a recession, GDP
a) Shrinks
b) Grows slowly
c) Grows by 0%
d) Grows rapidly
Refers to an increase in the general price level associated with an increase in the cost of production.
Supply Inflation
Cost Push Inflation
Imported Inflation
Demand Pull Inflation
Farm helpers are unemployed when the cropping season is over.
frictional
cyclical
structural
seasonal
If the consumer price index (CPI) for year 2013 is equal to 180 and for year 2014 is equal to 198, calculate the inflation rate level in year 2014.
10%
18%
80%
98%
