econ unit 4

econ unit 4

12th Grade

40 Qs

quiz-placeholder

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econ unit 4

econ unit 4

Assessment

Quiz

Mathematics

12th Grade

Practice Problem

Hard

Created by

Alexa Gallardo

Used 1+ times

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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The state of Texas buys 20 billion tons of concrete for a new permanent toll road. The concrete is a(n) ___ good.

final

intermediate

circular

normal

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Businesses send _________ to the resource market.

expenditures

goods and services

taxes

revenue

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Phillips Curve highlights the relationship between ___.

the wage rate and real GDP

the inflation and unemployment rates

the real wage rate and the price of natural resources

the inflation rate and net exports

the unemployment rate and real GDP

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Calculate the GDP in millions.

Formula for Computing GDP: Y= C + I + G + NX

$5,086.1

$4,459.5

$4,465.7

$4,453.3

$4,006.3

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The product market sends __________ to businesses.

land, labor, and capital

goods and servicesincome: wages, rent, etc.

revenue

taxes

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The government sends ________ to households.

expenditures

goods and services

resources

revenue

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would probably NOT be the subject of a “sin tax”?

fast food

cherries

candy

cigarettes

alcohol

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