Unit 3: Econ Study Guide

Quiz
•
Social Studies
•
11th Grade
•
Medium
PAUL STODGHILL
Used 5+ times
FREE Resource
50 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the government is spending more money on building roads and improving interstate transportation, this leads us to believe that the US is currently in what phase of the business cycle?
trough
peak
expansion
recession
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes fiscal policy?
tools used by the Federal Open Market Committee to stabilize the economy
the government’s control over interest rates to increase economic growth
the supervision of banks to ensure the financial system’s security
government’s use government spending & taxation changes to influence economic activity
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During recessions, which type of unemployment increases?
structural unemployment
seasonal unemployment
frictional unemployment
cyclical unemployment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which sector of GDP would the salary of a public school teacher be included?
Consumer Spending
Business Investments
Government Spending
Net Exports
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement describes economic activity in a recession?
consumer spending declines
business production increases
unemployment rate decreases
government regulations increases
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which phase of the business cycle is characterized by economic growth and rising Real GDP?
Trough
Expansion
Contraction
Recession
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a nation currently has a budget deficit, what could be a possible result of this situation?
Budget Surplus
Increasing National Debt
Balanced Budget
Discretionary Fiscal Spending
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