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Worksheetschapter 2
Total questions: 11
Worksheet time: 6mins
Name
Class
Date
1.
what is GDP
a)
GDP is the total value of all goods and services produced within a country's borders in a specific time period.
b)
GDP is the total value of all goods and services exported from a country's borders in a specific time period.
c)
GDP is the total value of all goods and services imported within a country's borders in a specific time period.
d)
GDP is the total value of all goods and services consumed within a country's borders in a specific time period.
2.
what is the labor force
a)
The labor force is the total number of people who are retired
b)
The labor force is the total number of people who are students
c)
The labor force is the total number of people who are on vacation
d)
The labor force is the total number of people who are employed or actively seeking employment.
3.
the economy slowing down is ?
(a)
4.
what is personal income
a)
Income received by a company from all sources
b)
Income received by an individual from all sources
c)
Money earned from selling personal belongings
d)
Money received as a gift from a friend
5.
what is a budget surplus
a)
A budget surplus is when expenses exceed income.
b)
A budget surplus is when income equals expenses.
c)
A budget surplus is when there is no income or expenses.
d)
A budget surplus is when income exceeds expenses.
6.
what is national debt
a)
The total value of a country's assets
b)
The amount of money that a government owes to other countries
c)
The amount of money that citizens owe to the government
d)
Total amount of money that a government owes to its creditors
7.
what is consumer debt
a)
Total savings of an individual
b)
Government spending on public services
c)
Corporate profits from sales
d)
Amount of money owed by individuals for goods and services purchased on credit
8.
what is capital projects
a)
Medium-term, medium-scale investment projects
b)
Long-term, large-scale investment projects
c)
Short-term, small-scale investment projects
d)
Non-financial projects
9.
what is inflation
a)
Inflation is the rate at which the general level of prices for goods and services is rising.
b)
Inflation is the rate at which the general level of prices for goods and services is falling.
c)
Inflation is the rate at which the general level of prices for goods and services remains constant.
d)
Inflation is the rate at which the general level of prices for goods and services is unrelated to the economy.
10.
what is equity
a)
A type of debt instrument
b)
A measure of a company's financial leverage
c)
The amount of money a company has in cash
d)
Ownership interest in a company or property
11.
did you learn anything
a)
yes
b)
no
c)
kinda
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