ECONOMICS: CHAPTER 3 SECTION 2: PROMOTING GROWTH AND STABILITY

Gross domestic product provides a means to analyze economic growth by:

• measuring the total value of goods and services produced in a country.

• assessing the level of education in a country.

• determining the political stability of a country.

• evaluating the cultural heritage of a country.

Which of the following best describes the business cycle?

• A continuous rise in stock market prices

• A recurring pattern of economic expansion and contraction

• A one-time economic boom

• A permanent state of economic recession

How does innovation cause obsolescence?

• By creating new technologies that replace old ones

• By improving existing technologies without replacing them

• By maintaining the status quo

• By reducing the need for technological advancement

Suppose you had a job you did not like. If the economy was in the downward part of the business cycle, would you be more or less likely to quit your job to look for a better one? Why or why not?

• More likely to quit

• Less likely to quit

• Equally likely to quit

• Not sure

Which qualities show a strong work ethic?

• Punctuality, responsibility, and diligence

• Creativity, flexibility, and humor

• Independence, curiosity, and spontaneity

• Empathy, patience, and kindness