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WorksheetsPBMF Ch 2 Economic Activity
Total questions: 30
Worksheet time: 15mins
Central bank regulation of money supply and interest rates.
monetary policy
fiscal policy
commerce
price fixing
Activities involved in buying and selling goods on a large scale.
commerce
fiscal policy
GDP
recession
All the people in a country who capable of working and want to work.
labor force
unemployment
monopoly
business cycle
Occurs when two or more businesses in an industry agree to sell the same good or service at the same price.
fiscal policy
price fixing
monopoly
recession
Alternating periods of expansion and contraction in an economy.
business cycle
recession
commerce
GDP
Rate of change in prices calculated on a monthly or yearly basis.
inflation
business cycle
recession
expansion
Tax and spending decisions made by the President and Congress.
fiscal policy
monetary policy
business cycle
commerce
The market value of all final products produced in a country during a specific period of time.
gross domestic product
price fixing
commerce
business cycle
A period of significant decline in the total output, income, employment, and trade in an economy.
expansion
deflation
inflation
recession
Market structure with one business that has complete control of a market's entire supply of goods and services.
monopoly
commerce
fiscal policy
expansion
Gross domestic product (GDP) is also known as economic _____.
input
growth
output
policy
What type of spending is NOT a component of gross domestic product?
consumer
business
government
stock market
A general rise in prices throughout an economy is called _________.
inflation
deflation
per capita GDP
fiscal policy
The amount a borrower pays for a loan is _________.
lending
interest
inflation
commerce
A rising unemployment rate indicates a _____________.
stronger economy
rising standard of living
weaker economy
period of hyperinflation
Which is NOT a stage of the business cycle?
specialization
expansion
peak
recession
A(n) _____________ is a market structure with a small number of businesses selling the same or similar products.
monopoly
oligopoly
monopolistic competition
perfect competition
Which of the following is NOT a role of government in an economy?
promote competition
provide a legal framework
promotes monopolies
manage the economy
Fiscal policy involves _________________ decisions made by the government.
tax and spending
antitrust laws
money supply and interest rates
consumer protection
The peak of a business cycle marks the ______________.
end of a contraction
beginning of high unemployment
end of an expansion
beginning of government regulation
The strength of an economy can be measured using certain economic ___________________.
influence
indicators
inflation
imperfections
Ownership of a corporation is divided in ___________.
shares
slices
inflation
interest
The central bank of the United States is the _____________.
Federal Reserve
Federalist Papers
Federal Government
Federal Policy
Laws that promote fair trade and competition among businesses are known as _____________ laws.
trusting
antitrust
anti-taxes
antibodies
The measure of worker's production in a specific amount of time, such as an hour, a day, or a week.
Promise
Productivity
GDP
Protection
A certificate of debt issued by an organization or government is called _____________.
bonus
bond
stock
share
The lowest stage of a business cycle and marks the end of a recession.
trouble
antitrust
trough
peak
How a market is organized based on the number of businesses competing for sales in an industry.
marketing
monetary policy
market structure
monopoly
The total money circulating at any one time in a country.
billionaires
shares
money supply
monopoly
When two or more businesses work together to remove their competition, set prices, and control distribution.
control
central market
collusion
cooperation
