Intro to Business - Chapter 03 - Economic Activity in a Changing World Flashcards

1

US Economy in 1700s

information-based
industry-based
service-based
agriculture-based

2

During a recovery

GDP is stagnat
unemployment is nonexistent
money is scarce
production starts to increase

3

Economic indicators measure

whether its economy is growing
all the above
how the country compares to others
how much a country is producing

4

General increase in the price of goods and services

recession
upsurge
deflation
inflation

5

US Economy in 1900s

agriculture-based
service-based
industry-based
information-based

6

unemployment rate measures the number of people who?

are able and willing to work but cannot find work
are currently working
are willing to work
all of the above

7

main source of income for government

imports
revenue
exports
taxes

8

total amount of money a government owes is its

national debt
federal debt
national deficit
federal deficit

9

Figures used to measure economic performance

economic measurements
economic performance
performance indicators
economic indicators

10

The recovery of the Great Depression was helped by

innovation
WWII
increased demand
WWI

11

US Economy in 1600s

information-based
industry-based
agriculture-based
service-based

12

The stock market crash on Oct. 29, 1929 is known as

Black Monday
Blue Friday
Black Tuesday
Black Friday

13

The rise and fall of economic activity over time

deflation
prosperity
business cycle
standard of living

14

US Economy in 1800s

industry-based
agriculture-based
information-based
service-based

15

The Federal Reserve is a government agency that guides the economy by

controlling the amount of money loaned
controlling the interest rates
regulating the amount of money in circulation
all of the above

Intro to Business - Chapter 03 - Economic Activity in a Changing World

Questions 15

Intro to Business - Chapter 03 - Economic Activity in a Changing World

Questions 15