What does the Gross Domestic Product (GDP) measure?

Economics Quiz

Quiz
•
Financial Education
•
10th Grade
•
Medium
Used 1+ times
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13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The total value of goods and services produced
The percentage of the labor force seeking work
Changes in the price level of consumer goods
The amount of money in circulation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic indicator is used to assess inflation?
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Unemployment Rate
Interest Rate
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a cause of unemployment according to the study guide?
High consumer spending
Structural, cyclical, or frictional issues
Increased investment
Technological advancement
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During which phase of the business cycle does GDP fall?
Expansion
Peak
Contraction
Recovery
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one strategy for achieving national economic goals?
Increasing tariffs
Implementing fiscal and monetary policies
Reducing education funding
Limiting trade
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of the nation's financial system?
To increase taxes
To manage risk and support investments
To reduce inflation
To control unemployment
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of expansionary fiscal policy?
Increasing taxes
Reducing government spending
Cutting taxes to reduce unemployment
Raising interest rates
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