What does the circular flow model primarily illustrate?

Economic Concepts and Indicators

Interactive Video
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Business, Mathematics, Social Studies
•
9th - 12th Grade
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Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The impact of international trade on GDP
The interaction between households and the government
The flow of money and goods between resource and product markets
The role of banks in the economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a method for calculating GDP?
Savings approach
Income approach
Expenditure approach
Value-added approach
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a major limitation of GDP as a metric of development?
It does not measure the quality of products
It accounts for the wealth gap
It accurately reflects the healthcare system
It includes non-market transactions
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the labor force participation rate calculated?
People looking for work plus employed individuals divided by total adults
Unemployed individuals divided by the labor force
Total population divided by employed individuals
Employed individuals divided by total population
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which group is NOT considered in the unemployment rate?
Underemployed workers
Full-time workers
Part-time workers
Discouraged workers
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the Consumer Price Index (CPI) measure?
The unemployment rate
The trade balance
Inflation in a basket of goods
Overall GDP growth
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the GDP deflator used for?
Determining the natural rate of unemployment
Assessing the quality of goods
Calculating the unemployment rate
Measuring inflation in GDP across the economy
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