In the Circular Flow Model, households provide which of the following to businesses?
Weeks 8/9 Quiz Econ

Quiz
•
History
•
12th Grade
•
Hard
Shauna Parker
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
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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