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WorksheetsUnit 3 Quiz Review
Total questions: 13
Worksheet time: 10mins
Is this counted in the GDP of the US?
Cars made by a Japanese company in California.
Yes
No
If operators are fired and replaced with computer technology, the operators would be considered
frictionally unemployed
structurally unemployed
cyclically unemployed
dissatisfiededly unemployed dissatisfiededly unemployed
Which of the following best defines unemployment?
The state of being able to work and actively seeking work, but unable to find employment
The state of being able to work, but choosing not to
The percentage of the labour force that is able and actively seeking work, but cannot find employment
The total number of people who do not work
Most countries try to maintain an inflation rate of ______ per year.
One percent or less
Two to three percent
Four to five percent
Six to seven percent
The Business Cycle measures ___ over time.
wealth
inflation
economic growth
GDP declines during a(an)
peak
contraction
expansion
____________ refers to the total value of final goods and services which all the sectors of an economy are planning to buy at a given level of income during a period of one accounting year.
aggregate demand
aggregate supply
_____________ refers to the money value of goods and services that all the producers are willing to supply in an economy in a given time period.
Aggregate demand
Aggregate supply
