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WorksheetsEconomics - Economic Indicators & Business Cycle
Total questions: 16
Worksheet time: 10mins
What is the definition for GDP?
The market value of all final goods and services produced in a nation during a period of time, usually a year.
The increase of general prices over time.
When people do not have jobs and are actively looking for one.
What is the definition for inflation?
The market value of all final goods and services produced in a nation during a period of time, usually a year.
The increase of general prices over time.
When people do not have jobs and are actively looking for one.
What is the definition for unemployment?
The market value of all final goods and services produced in a nation during a period of time, usually a year.
The increase of general prices over time.
When people do not have jobs and are actively looking for one.
What type of Unemployment is represented here?
Scenario: The economy is on the decline causing businesses to lay off employees
Cyclical
Seasonal
Structural
Frictional
What type of Unemployment is represented here?
Scenario: Businesses purchase more technology for the sole purpose of laying off employees
Cyclical
Seasonal
Structural
Frictional
What type of Unemployment is represented here?
Scenario: You are let go from Ritas because the Spring and Summer seasons have passed.
Cyclical
Seasonal
Structural
Frictional
Over half of the spending of the _______________ include programs like Medicare, Social Security & Unemployment.
Household Consumption/ C
Business Investment/ I
Government Purchases/ G
Net Exports/ NX
A company putting its money towards expanding its business. An example of this would be a construction company buying new trucks and other heavy equipment to improve production.
Household Consumption/ C
Business Investment/ I
Government Purchases/ G
Net Exports/ NX
The largest spending category of GDP. This picture is a break down of all the things consumers spend their money on.
Household Consumption/ C
Business Investment/ I
Government Purchases/ G
Net Exports/ NX
According to this image, the United States exported 200 billion in goods and services, and imported 150 billion. This category is what part of GDP?
Household Consumption/ C
Business Investment/ I
Government Purchases/ G
Net Exports/ NX
What does Per Capita Mean?
Per Household
Per Object
Per Worker
Per Person
GDP per capita is found by dividing a country's GDP by it's
population.
average birth rates.
number of households.
Business cycle has four phases:
expansion, peak, contraction, trough
peak, expansion, concept, decline
contraction, peak, expansion, uprise
trough, peak, decline, uprise
