WorksheetsEconomics Unit 3-4
Total questions: 27
Worksheet time: 29mins
Unemployment resulting from seasonal changes in weather or in the demand for certain products or job
Frictional
Uemployment
Cyclical Unemployment
Seasonal Unemployment
Structural Unemployment
Workers are between jobs for one reason or another, usually short term and results from natural changes in the economy
Structural Unemployment
Seasonal Unemployment
Cyclical Unemployment
Frictional Unemployment
Unemployment that is directly related to swings in the business cycle
Structural Unemployment
Cyclical Unemployment
Frictional Unemployment
Seasonal Unemplouyment
Unemployment causes by a fundamental change in the economy that reduces the demand for some workers and their skills
Structural Unemployment
Cyclical Unemployment
Frictional Unemployment
Seasonal Unemployment
Which of the following is counted when looking at unemployment?
All the people currently working in the United States
The jobless (16t) who made an effort to find a job in the last month
People who do not have a job and do not want one
Those who are disabled or can not work for one reason or another
Part of economic theory that deals with the performance, structure, behavior, and decision-making of an economy as a whole?
Macroeconomics
Microeconomces
Business Economics
World Economics
What is the Consumer Price Index (CPI)?
It monitors changes in the stock market to determine prices consumers pay for goods
It monitors changes in housing prices to determine cost of living
It tracks monthly changes in prices paid by consumers for a representative "basket" of goods, used to measure inflation
It tracks changes in GDP to measure economic growth
This occurs when there is general decrease in the price paid for goods and services
Deflation
Hyperinflation
Inflation
Recession
Inflation occurs when
The tax rate is lower than the government spending rate
Demand for products rises
The price of any given commodity rises
The average price of most goods and services rises
Who is calculated in the labor force?
All people who are currently employed
All persons 16+ who are unemployed and not seeking jobs
Sum of all persons 16+ who are either employed or actively seeking employment
Any one who can not work or is not old enough to work
The federal government's overall approach to spending and taxes is called?
Physical Policy
Fiscal Policy
Monetary Policy
Tax Policy
What are actions by the Federal Reserve System to expand or contract money supply and effect the cost and availability of credit?
Fiscal Policy
Money Policy
Federal Policy
Monetary Policy
What is the central bank of the United States that is controls monetary policy and helps to stabilize the countries banking system?
National Federal Bank
Federal Reserve System
Federal Bank of U.S.
Federal Monetary Bank
Regular changes in real GDP marked by alternating periods of expansion and contraction (ups and downs)
Business Cycle
Economic Growth
Business Patterns
GDP Cycles
What is number 3 and 7 on the graph called?
Retraction
Peak
Trough
Expansion
What is number 4 on the graph called?
Retraction
Peak
Trough
Expansion
What is number 6 on the graph called?
Retraction
Peak
Trough
Expansion
What is number 2 on the graph called?
Retraction
Peak
Trough
Expansion
What do you label 1 and 5 on the graph?
What is the dollar value of all final goods, services, and structures produced within a country's national borders during a 1 year period?
Gross National Product
Gross Domestic Product
GDP Per Capita
GNP Per Capita
GDP takes what into account?
Population
Umemployment
Standard of Living
Inflation
A decline in real GDP lasting at least two quarters or more is called a?
Recession
Peak
Fluctuation
Expansion
A period of recovery from a recession is known as?
Trough
Expansion
Peak
Econometric Model
The movement toward a more interdependent and integrated world economy is known as:
Regional Economic Corporation
Interdependence
Globalization
Economic Connection
Why is it important to live on a budget?
Living on a budget will eliminate how many bills you have to pay
Living on a budget will increase your salary
Living on a budget will make your life easier and allow for less stress
Living on a budget will make you a financial advisor
Every student who wants financial aid must _______?
Apply for a social security card
Apply for FASFA
Join the military
Take AP classes
These are mandatory contributions levied on individuals or corporations by the government, whether local, regional, or national?
Fiscal policy
Taxes
Income Contributions
Donations
