Eco Measurements Review

Presentation

•

Social Studies

•

6th - 9th Grade

•

Medium

Edgar Rivera

Used 29+ times

FREE Resource

20 Slides • 16 Questions

Multiple Choice

GDP is the total value of goods and services

produced all over the world

produced in one month

produced within a nation's borders

produced by a singl company

Multiple Choice

All final goods and services that make up GDP can be expressed in the form:

GDP = C + I - G + (X + N).

GDP = C + I + G + (X + N).

GDP = C + I + G + (X - N).

GDP = C + I + (X - N).

Multiple Choice

Which of the following would represent an addition to a nation’s GDP?

Ms. Jones purchases a share of stock in a technology start-up company

An auto retailer purchases imported cars

The government hires workers to install streetlights

A business sells used watches

A mother prepares a home cooked meal for her family

Multiple Choice

This is unemployment because people are between jobs or who are looking for their first job:

frictional

structural

seasonal

cyclical

Multiple Choice

Farm helpers are unemployed when the cropping season is over.

frictional

cyclical

structural

seasonal

Poll

How confident do you feel about this exam? On a scale of 1-10.

1-3

4-6

6-9

10 :)

Multiple Choice

Caleb takes a job selling cars. In six months he is laid off due to a slowing economy and poor car sales. What type of unemployment is Caleb experiencing?

frictional

structural

seasonal

cyclical

Multiple Choice

Who among the following would be considered as unemployed?

A college student of legal age to work but who is still in school full time.

An entrepreneur in the process of starting a new business.

A secretary who was laid-off from work & is looking at job ads

A housewife taking care of three children.

Multiple Choice

Inflation is defined as an increase in:

real wages of workers.

real GDP.

the average price level.

all consumer products.

Multiple Choice

The "market basket" that is a list of the prices of items purchased by an average consumer is known as the

unemployment rate

consumer price index

producer price index

economic growth rate

Multiple Choice

"Prices for consumer goods down 5% this year!" This headline affects which economic indicator the most?

Unemployment

Consumer Price Index

Productivity

Gross Domestic Product (GDP)

Multiple Choice

If you live on a fixed income, how will you be affected by inflation.

You are hurt because your purchasing power has decreased.

You are helped because your purchasing power has increased.

You are helped because interest rates rise.

You are hurt because interest rates rise.

Multiple Choice

What is happening to the economy in a period of economic contraction?

GDP is rising and unemployment is falling.

GDP is rising and unemployment is rising.

GDP is falling and unemployment is rising.

GDP is falling and unemployment is falling.

Multiple Choice

If GDP falls for at least 2 Quarters, it is considered what stage of the business cycle?

Expansion

Recession

Prosperity

Recovery

Multiple Choice

If a news headline says, "Finally!!! 2 straight months of increased jobs."

Where on the business cycle is the current economy?

Peak

Contraction/Recession

Trough

Expansion/Growth/Recovery

Multiple Choice

GDP will begin to decline at-

the peak.

the trough.

the contractionary phase.

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