Weeks 8/9 Quiz Econ

Weeks 8/9 Quiz Econ

12th Grade

12 Qs

quiz-placeholder

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Weeks 8/9 Quiz Econ

Weeks 8/9 Quiz Econ

Assessment

Quiz

History

12th Grade

Hard

Created by

Shauna Parker

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

In the Circular Flow Model, households provide which of the following to businesses?

Taxes

Goods and services

Factors of production

Government spending

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

National income is the total amount of money earned by:

The government from taxes

Individuals and businesses within a country

Households in the private sector

Foreign investors in the domestic market

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Disposable income is best defined as:

Income before taxes are deducted

Income available for spending and saving after taxes

Total revenue of a business

The amount of money businesses invest in capital goods

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Inflation occurs when:

The overall price level in an economy decreases

The purchasing power of money increases

There is a sustained rise in the general price level of goods and services

The supply of goods exceeds demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which of the following would be an example of disinflation?

The inflation rate decreasing from 5% to 2%

Prices dropping significantly across the economy

Wages increasing faster than the cost of living

A rapid increase in the money supply

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Deflation is a decrease in the general price level, Disinflation is the slowing of inflation (ex:8% to 4% Inflation Rate), Inflation is a sustained increase in the general Price level.

When inflation is too high, what is more desirable Deflation or Disinflation?

Disinflation - because Deflation causes a decrease in Price levels means a halt in income fore companies, leading to mass layoffs, and crashing GDP

Deflation because when prices are too high it is good when they drop

Inflation is always good because it means the economy is growing and there is more economic health

Both are good for the general public when inflation is too high

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

What does the Consumer Price Index (CPI) measure?

The amount of money banks lend to businesses

The average change over time in the prices paid by consumers for a market basket of goods and services

The income levels of households in an economy

The amount of taxes collected by the government

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