Economic Indicators

Question 1

The total dollar amount of all goods, services, and structures produced within a year is

Accepted Answer

the GDP.

Question 2

The pattern of alternating periods of expansion and contraction is called

Accepted Answer

the business cycle.

Question 3

A period of extreme deflation is better for the economy than a period of extreme inflation.

Accepted Answer

false

Question 4

Hyperinflation is a theory, but it could never really happen.

Accepted Answer

false

Question 5

The overall tendancy of the GDP to increase over time is expressed on the graph as a

Accepted Answer

growth trend.

Question 6

Choose the correct answer.

Accepted Answer

correct, correct

Question 7

From the information, one could infer that rising energy costs

Accepted Answer

help fuel inflation.

Question 8

Contractions are phases of recovery.

Accepted Answer

false

Question 9

All of these are common economic indicators except

Accepted Answer

the growth trend.

Question 10

The consumer price index helps measure

Accepted Answer

inflation.

Question 11

A rise in unemployment and a decline in GDP indicate

Accepted Answer

a period of contraction.

Question 12

Extreme inflation is called

Accepted Answer

hyperinflation.

Question 13

Deflation occurs when

Accepted Answer

currency increases in value.

Question 14

During a period of expansion all of the following increase except

Accepted Answer

unemployment.

Questions 14