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Understanding Economic Indicators Flashcard

Understanding Economic Indicators Flashcard

Assessment

Flashcard

Financial Education

10th Grade

Practice Problem

Easy

Created by

Wayground Content

Used 1+ times

FREE Resource

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20 questions

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1.

FLASHCARD QUESTION

Front

What is the definition of an Economic Indicator?

Back

A statistic used to gauge the health of an economy.

2.

FLASHCARD QUESTION

Front

What does GDP stand for?

Back

Gross Domestic Product

3.

FLASHCARD QUESTION

Front

Which of the following is NOT a phase of the Business Cycle? Peak, Contraction, Inflation, Recovery

Back

Inflation

4.

FLASHCARD QUESTION

Front

What is the acceptable rate of unemployment?

Back

3-5%

5.

FLASHCARD QUESTION

Front

Which of the following is a natural cause of unemployment? Cyclical, Seasonal, Frictional, All of the above

Back

All of the above

6.

FLASHCARD QUESTION

Front

What is the definition of Minimum Wage?

Back

The lowest amount an employer can legally pay an employee.

7.

FLASHCARD QUESTION

Front

Which of the following is a pro of Minimum Wage? It increases unemployment., It reduces poverty., It decreases inflation., It lowers productivity.

Back

It reduces poverty.

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