US History - Economics Review - NC Social Studies 8th Grade Review Games Question Preview (ID: 19835)


North Carolina Social Studies Review Games And More At Http://ncss2014.weebly.com. US History - Economics - US Games For NC Final Exam (common Exam, Msl). Mr. D @mrdncss - 8th Grade. TEACHERS: click here for quick copy question ID numbers.

1. What does GDP measure?
a) The value of products produced
b) The Value of products produced for the entire world
c) The amount of money spent on products
d) A measurement of inflation

What is inflation?
a) The devaluation of money
b) The drop in the price of goods
c) The increase in value of money
d)

Which of the following is vital for the growth and stability of an economy?
a) Inflation
b) Boom Periods
c) Quality Resources
d) A totalitarian communist government

As GDP increases, a nation’s economy -
a) Becomes less stable
b) Becomes more stable
c) Experiences inflation
d) Experiences deflation

Which of the following is related to a high unemployment rate?
a) A stable economy
b) A decrease in GDP
c) High inflation
d) Stagflation

8. Which of the following is calculated by the unemployment rate?
a) Citizens under 16
b) Retired persons
c) Labor force
d) Citizens not looking for work

9. GDP and the unemployment rate are –
a) Worthless economic tools
b) Useful measurements of the economy
c) Unrelated economic tools
d) Misleading economic instruments

10. Which of the following statements is FALSE?
a) The Great Depression could have been prevented by government intervention
b) The Great Recession was the result of bad loans being made by banks, and bad loans being taken out by people
c) The Great Depression occurred because of fear
d) The Great Recession can be blamed completely on dead beat borrowers

What causes inflation?
a) Increase in the money supply
b) Decrease in the money supply
c) Increase in goods and services
d) Decrease in goods and services

Which of the following is NOT studied by an economist?
a) Production
b) Consumption
c) Language
d) Distribution

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