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Worksheets

Macro

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

What is a measure of our economy ?

a)
Gross Domestic Product (GDP)
b)

CPI

c)

PPI

d)

The FED

2.

What does the GDP measure ?

a)
The total value of all goods and services produced over a specific time period within a country's borders
b)
The total value of all goods and services consumed within a country's borders
c)
The total value of all goods and services exported by a country
d)
The total value of all goods and services imported by a country
3.

What type of GDP removes inflation ?

a)
Nominal GDP
b)
Gross GDP
c)
Real GDP
d)
Net GDP
4.

What is the biggest component of GDP ?

a)
Government spending
b)
Net exports
c)
Investment
d)
Consumer spending
5.

What is a measure of inflation ?

a)
Consumer Price Index
b)
Gross Domestic Product
c)
Unemployment Rate
d)
Interest Rate
6.

What is the highest point of a business cycle ?

a)
Trough
b)
Expansion
c)
Peak
d)
Recession
7.

What part of the business cycle does the GDP start to grow ?

a)
Expansion
b)
Peak
c)
Trough
d)
Recession
8.

What part of the business cycle does the GDP start to fall ?

a)
Expansion
b)
Peak
c)
Recession
d)
Trough
9.

What kind of unemployment would a farmer fall under ?

a)
Frictional unemployment
b)
Structural unemployment
c)
Cyclical unemployment
d)
Seasonal unemployment
10.

What kind of unemployment happens when a person is layed off during a recession ?

a)
Frictional Unemployment
b)
Structural Unemployment
c)
Cyclical Unemployment
d)
Voluntary Unemployment
11.

Who is in charge of monetary policy ?

a)
The President
b)
The Prime Minister
c)

The Fed

d)
The Supreme Court
12.

Who is in charge of Fiscal policy ?

a)

Coach Angle

b)
The Congress
c)
The Federal Reserve
d)
The Supreme Court
13.

Who influences interest rates to influence the economy ?

a)
The President
b)
The Congress
c)
The Federal Reserve
d)

Coach Harrell

14.

What two powers are used in Fiscal policy ?

a)
Monetary and Fiscal
b)
Taxation and Government Spending
c)
Supply and Demand
d)
Inflation and Deflation
15.

What type of policy makes the economy grow ?

a)
Fiscal Policy
b)

Expansionary

c)
Trade Policy
d)
Healthcare Policy
16.

What are the three goals of fiscal and monetary policy ?

a)
Stability, growth, and full employment
b)
Inflation, deflation, and stagnation
c)
Taxes, interest rates, and government spending
d)
Budget surplus, budget deficit, and public debt
17.

Does car parts made in Tallapoosa for Honda count under our (US) GDP?

a)

Maybe

b)

Yes

c)

No

d)

Some times

18.

A used car is not counted on the GDP.

a)

True

b)

False

19.

What kind of unemployment occurs when a worker is temporarily between jobs ?

a)
cyclical unemployment
b)
structural unemployment
c)
frictional unemployment
d)
seasonal unemployment
20.

What kind of products does the CPI measure ?

a)

Snow cones

b)
Capital goods
c)
Raw materials
d)
Consumer goods and services