NEW
Font size
WorksheetsCh.2 Review
Total questions: 12
Worksheet time: 6mins
_____ is the market value of all final products produced in a country during a specific time period.
Inflation
GDP
Interest Rate
Unemployment rate
A 1% to 4% inflation rate is considered
LOW
MEDIUM
SEVERE
HYPERINFLATION
The labor force is all the people in a nation who are
INCAPABLE AND WILLING
CAPABLE AND UNWILLING
CAPABLE AND WILLING
INCAPABLE AND UNWILLING
The system and market for buying and selling stocks
Bonds
GDP
Inflation
Stock Market
The _____ part of the business cycle is when the economy is growing and the GDP is rising.
Recession
Expansion
Peak
Trough
The ____ is the highest point in the business cycle.
Peak
Trough
Expansion
Recession
Monopoly is a market structure where one business has COMPLETE control of a market's ENTIRE supply
Perfect Competition
Oligopoly
Monopolistic Competition
Monopoly
This market structure is characterized by a LARGE number of businesses selling the SAME product at the SAME price.
Monopoly
Perfect Competition
Monopolistic Competition
Oligopoly
Which of the following is NOT one of the roles of the government in the economy.
Manage economy
Provide public goods and services
Reduce Competition
Provide a legal framework
_____ is the central bank of the United States
Bonds
Chase
Federal Reserve System
Wells Fargo
regulates the supply of money and interest rates by a central bank
Fiscal policy
Monetary policy
Antitrust laws are designed to
reduce fair trade and competition
promote fair trade and competition
promote fair trade and reduce competition
reduce fair trade and promote competition
