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Government & Economics Unit 6 Review Flashcards | StudBud
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Government & Economics Unit 6 Review
Government & Economics Unit 6 Review
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Unit 6 Review & Random Pop Culture Trivia
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
What does the Consumer Price Index (CPI) measure?
Inflation
GDP
Unemployment levels
Government spending
2
Delaware was the first state to join the United States. Who was the second?
Maryland
New York
Pennsylvania
New Jersey
3
Who decides upon and implements monetary policy in the United States?
State Governments
Federal Reserve
Judicial Branch
US Congress & the President
4
The total market value of all final goods and services produced in the economy refers to:
Inflation
Supply
GDP
Aggregate Demand
5
One of the top Billboard songs of 2005 was "Boulevard of Broken Dreams" by:
Green Day
Coldplay
Nickelback
3 Doors Down
6
Which one of the following is
NOT
a major component of the measure of gross domestic product?
Consumer spending
Net exports
Business investment spending
Government taxation
7
Which range of #s best represents the historical average annual US unemployment rate?
2-3%
0-1%
5-6%
9-10%
8
A recession is typically associated with all of the following
EXCEPT:
Increase in GDP
Low inflation
Decrease in consumer spending
Increase in unemployment
9
What river flows through the Grand Canyon?
Colorado
Mississippi
Rio Grande
Missouri
10
What monetary policy tool involves the buying and selling of government bonds?
Government Spending
Open Market Operations
Reserve Ratio
Discount Rate
11
If overall production (GDP) decreases in the economy, what is the typical impact?
Unemployment decreases & Inflation increases
Unemployment decreases
Unemployment increases & Inflation decreases
The federal government will raise income taxes
12
Which range of #s best represents the historical average annual rate of inflation?
3-4%
6-7%
10-11%
0-1%
13
What band had these early 2000s hits:
Kryptonite
,
Here Without You
, and
Be Like That
?
Incubus
Foo Fighters
3 Doors Down
Third Eye Blind
14
Which economic theory thinks the government should increase its own spending during recessions?
Monetary policy
Supply-side economics
Monetarism
Keynesian economics
15
Where is the Statue of Christ the Redeemer located?
Istanbul
Rome
Rio de Janeiro
Miami
16
What are the two tools of fiscal policy?
Taxes & Government Spending
Government Spending & Interest Rates
Discount Rate & Open Market Operations
Taxes & Interest Rates
17
What part of the business cycle model is the point when GDP hits a minimum before recovery?
Peak
Expansion
Recession
Trough
18
Which one of the following actions would NOT be considered expansionary policy?
Increasing Government Spending
Raising Taxes
Decreasing Discount Rate
Buying Bonds
19
Which one of the following is NOT a goal for the US economy?
Full Employment
Stable Prices
GDP Growth
Equal Distribution of Wealth
20
What monetary policy tool involves changing the amount of deposits banks must hold as reserves?
Deposit Ratio
Federal Funds Rate
Discount Rate
Reserve Ratio
21
Which one of the following people is considered to be unemployed by the federal government?
A full time student
A man who is looking for work but can't find any
A woman who lost her job but quit looking for another
A man who is retired
22
Which state is nicknamed "The Bluegrass State?"
Kansas
Maryland
Kentucky
Nebraska
23
Which country's flag is pictured below?
Puerto Rico
Brazil
Chile
Cuba
24
Which of the following is the best definition of macroeconomics?
The study of choices made by consumers
The study of choices made by government about money
The study of inflation
The study of the behavior of the large economy as a whole
25
Which country won the FIFA World Cup in 2014?
England
Italy
Germany
Argentina
26
What name does Superman use when he is in disguise as a regular guy?
Clark Kent
Bruce Wayne
Peter Parker
Ken Jennings
27
What type of unemployment involves a mismatch of skills needed and the skills of job seekers?
Seasonal
Structural
Cyclical
Frictional
28
Which of these movies did not debut in 2015?
Jurassic World
The Lego Movie
Minions
Inside Out
29
What range of #s best represents historical average annual real GDP growth?
3-4%
0-1%
6-7%
12-13%
30
Which one of the following measures annual economic output that is
adjusted for inflation
?
Nominal GDP
Federal Budget
CPI
Real GDP
