AP Macroeconomics Unit 2 Review

AP Macroeconomics Unit 2 Review

12th Grade

10 Qs

quiz-placeholder

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AP Macroeconomics Unit 2 Review

AP Macroeconomics Unit 2 Review

Assessment

Interactive Video

Social Studies

12th Grade

Easy

Created by

Christopher Muniz

Used 7+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for?

Gross Domestic Product

Gross Domestic Performance

General Domestic Product

General Domestic Performance

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the expenditures approach to measuring GDP include?

Value added at each stage of production

All of the above

Consumer spending, investment, government spending, and net exports

Wages, rent, interest, and profit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT included in GDP calculations?

Consumer spending

Investment by businesses

Intermediate goods

Government spending

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the circular flow model illustrate?

The calculation of GDP

The process of inflation

The interaction between households and businesses

The flow of financial resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a limitation of GDP as an economic measure?

It does not account for non-market transactions

It counts intermediate goods

It overestimates the value of digital goods

It includes illegal transactions

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of unemployment is due to the economic recession?

Structural unemployment

Natural unemployment

Frictional unemployment

Cyclical unemployment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the natural rate of unemployment?

The rate when cyclical unemployment is zero

The rate including only structural unemployment

0%

The rate including only frictional unemployment

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