WorksheetsUnit 6
Total questions: 10
Worksheet time: 5mins
The largest component of GDP in the US economy is....
consumption
investment
military spending
net exports (X-IM)
A high CPI can be interpreted as ....
the cost of goods/services declined
the cost of goods and services did not change
the cost of goods and services increased
the US currency is more valuable now that it was
A bank teller has lost their job due to the invention of the ATM which means that this bank teller is now _______ unemployed
frictionally
structurally
cyclically
seasonally
If the USA CPI in 1990 was 150 and was 180 in 1995 then the inflation rate for 1995 was
25%
20%
30%
-15%
A person who moved to a new state and took 2 months to find a new job experienced which type of unemployment?
frictional
structural
cyclical
natural
GDP is equal to
C+i+G+Xn
C+I+G+Xn
i+g+X+M
C-i+G-I
Which of the following actually decreases GDP?
capital goods such as machinery
imports
value of domestically produced services
government purchases of goods and services
The lowest point of the business cycle is the
peak
recession
recovery
trough
This shows the economy as goods/services flow from the factor markets to the product markets.
business cycle
circular flow
AD/AS
Phillips Curve
The rise of overall price levels is known as ...
GDP
CPI
inflation
unemployment
