Unit 4 Test

Unit 4 Test

12th Grade

33 Qs

quiz-placeholder

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Unit 4 Test

Unit 4 Test

Assessment

Quiz

History

12th Grade

Medium

Created by

Jennifer Degrush

Used 21+ times

FREE Resource

33 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three economic goals every society seeks to accomplish?

6% inflation, 10% unemployment, slow economic growth

Promote economic growth, full unemployment, limit inflation

full employment, stable prices, economic growth

Everyone employed, control inflation, flat economic growth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the correct equation for GDP below?

GDP = L + I + O + N

GDP = C + M + I + G

GDP = C + I + G + (X-M)

GDP = Nx + Mx + C + M

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following add to a nation's GDP EXCEPT

Government payouts for goods and services

Services rendered for payment

Items purchased at a grocery store

Items imported from another Nation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the four parts of the business cycle?

Expansion - Retraction - Infraction - Sublaction

Expansion - Peak - Recession - Trough

Infraction - Trough - Recession - Peak

Expansion - Peak - Sloth - Plummet

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The period of the business cycle characterized by Businesses decreasing production, unemployment rising, consumer spending decreasing, and a fall in inflation is

Trough

Recession

Peak

Expansion

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The point in the business cycle characterized by low unemployment and high inflation is...

Contraction

Trough

Peak

Expansion

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In order to count towards the unemployment rate, you must...

Be actively searching for a job

All options are true

Be able to work

Be of a working age

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