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Market Mayhem
Test Description: Review game for chapter 3 and 4.
Instructions: Answer all questions to get your test result.
1) What is the output per worker hour that is measured over a defined period of time?
A
GNP
B
GDP
C
productivity
D
CPI
2) What refers to rising prices?
A
business cycle
B
productivity
C
inflation
D
CPI
3) What is the total value of goods and services produced by a nation?
A
PPI
B
GDP
C
GNP
D
CPI
4) What is the correct order of the business cycle?
A
Trough, Recession, Expansion, Recovery
B
Expansion, Recession, Recovery, Trough
C
Recession, Recovery, Expansion, Trough
D
Expansion, Recession, Trough, Recovery
5) What a consumer's biggest fear during a recession?
A
business going under
B
getting more money
C
spending more money
D
losing their job
6) What is the exchange of goods and services among nations?
A
exports
B
imports
C
international trade
D
infrastructure
7) What are goods and services purchased from other countries?
A
exports
B
trade defecit
C
imports
D
trade surplus
8) What is a tax on imports?
A
embargo
B
tariff
C
quota
D
free trade
9) What is a business enterprise that a domestic company and a foreign company undertake together?
A
joint venture
B
partnership
C
FDI
D
contract manufacturing
10) What is a company's use of an exsisting product or promotion from which changes are made?
A
customation
B
adaptation
C
globalization
D
monsters
*select an answer for all questions
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