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Unit 3: Macroeconomic Indicators Flashcards | StudBud
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Unit 3: Macroeconomic Indicators
Unit 3: Macroeconomic Indicators
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StudBud Administration
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@BaddieBoyer's @WhiteKnoll High School #economics class. Unit 3 review @quiz.
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Inflation is...
indicates economic growth
the rise in the general price level
included in real GDP
a decrease in the general price level
2
A transmission (car part) is
NOT
calculated in GDP because it is an example of...
non-market transactions
secondhand sales
underground economic activity
intermediate products
3
Which of the following is an example of frictional unemployment?
A college student enters the job market after graduating.
A Sonic employee gets promoted to assistant manger.
A baton twirler quits her job & decided to be a quilter.
A man retires from the military after serving 20 years.
4
Real GDP...
is NOT adjusted for inflation
is a adjusted for inflation
5
Buying items at Goodwill is
NOT
calculated in GDP because it is an example of...
non-market transactions
underground economic activity
secondhand sales
intermediate products
6
The top point of the business cycle is called...
peak
trough
expansion
recession
7
To be considered unemployed, you must be all of the follow
except
...
put in specific effort
be able to work
be available for work
be out of school
8
The downward slope of the business cycle is called?
Recession
Peek
Expansion
Trough
9
GDP per capita measures real GDP in terms of...
number of resources
per person
days works
age
10
What type of unemployment is this? A super nintendo repair man lost his job.
frictional
cyclical
structural
seasonal
11
Full employment is equal to approximately...
8% unemployment
5% unemployment
0% unemployment
2% unemployment
12
Cyclical employment is directly related to the swings in the...
inflation rate
circular flow
unemployment rate
business cycle
13
The opposite of inflation is...
reflation
conflation
preflation
deflation
14
Which of the following is
NOT
a step for finding CPI or PPI?
Total the prices
Collect a market basket of items.
Select a base year.
Add imports and exports
15
Helping your Grandma cut her grass is
NOT
calculated in GDP because it is an example of...
non-market transactions
underground economic activity
secondhand sales
intermediate products
16
The
definition
of GDP includes all of the following
except
…
final goods and services
within a country's borders
quarterly
one year
17
GDP Price Deflator is calculated by...
using CPI/PPI
a formula created by the BLS
18
Which of the following is
NOT
a degree of inflation...
Galloping
Creeping
Crawling
Hyperinflation
19
We compute GDP using the following formula...
N+A+S+A
C+I+A+EX
C+I+G+NX
E+S+P+N
20
Which of the following is
NOT
a sector of the economy?
Government
Producer
Consumer
Foreign
