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