Economic Indicators

Question 1

Who controls Fiscal Policy decisions in the United States such as taxing and spending?

Accepted Answer

Congress and the President

Question 2

What type of unemployment occurs when people lack the skills for the jobs available ?

Accepted Answer

Structural

Question 3

What does GDP measure?

Accepted Answer

All goods and services bought and sold in a country

Question 4

What are the three economic indicators most used to measure the health of an economy?

Accepted Answer

GDP, Unemployment Rate, CPI

Question 5

What kind of inflation slowly rises over a number of years?

Accepted Answer

creeping

Question 6

What is Real GDP?

Accepted Answer

GDP adjusted for inflation

Question 7

Which of the following is NOT an example of Monetary policy?

Accepted Answer

Setting the Taxation Rate

Question 8

What type of unemployment occurs when the economy is down?

Accepted Answer

Cyclical

Question 9

What is it called when currency is almost totally devalued, as measured by out-of-control CPI?

Accepted Answer

hyperinflation

Question 10

To measure economic growth, economists mostly look at a country's ____.

Accepted Answer

GDP

Question 11

What type of unemployment occurs with industries which do not run all year?

Accepted Answer

Seasonal

Question 12

What is the correct equation for GDP?

Accepted Answer

C+ G+ I + X= GDP

Question 13

What does CPI measure?

Accepted Answer

Inflation

Question 14

Which of the following is NOT a goal of a healthy economy?

Accepted Answer

Market Surpluses

Question 15

What type of unemployment occurs when people are between jobs but do have skills?

Accepted Answer

Frictional

Question 16

Who does count in unemployment rates?

Accepted Answer

Recent Graduates

Questions 16