Unit 2 Review Sheet

Unit 2 Review Sheet

12th Grade

31 Qs

quiz-placeholder

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Unit 2 Review Sheet

Unit 2 Review Sheet

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Ryan Fritsche

Used 4+ times

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31 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for?

Gross Domestic Product

General Domestic Policy

Gross Development Plan

Global Domestic Product

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is GDP per capita?

Gross Domestic Product divided by the population

Gross Domestic Product multiplied by the inflation rate

Gross Domestic Product minus government spending

Gross Domestic Product divided by the number of companies

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an Interest Rate?

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

A type of tax imposed on goods and services.

The total amount of money borrowed from a bank.

A fee paid for insurance coverage.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Mixed Economy?

An economic system combining private and public enterprise.

An economy based solely on barter system.

An economy where only the government controls all resources.

An economic system with no government intervention at all.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Socialism?

A political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

A system where private individuals own all property and businesses.

A philosophy that supports absolute monarchy and hereditary rule.

A belief in the complete absence of government and laws.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Recession?

A period of temporary economic decline during which trade and industrial activity are reduced.

A time of rapid economic growth and prosperity.

A government policy to increase employment.

A type of financial investment strategy.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Inflation?

A general increase in prices and fall in the purchasing value of money.

A decrease in the supply of money in the market.

A sudden increase in employment rates.

A reduction in the cost of living.

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