Changing Economic Conditions Question Preview (ID: 21440)


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A ________ occurs when a government spends less than it takes in.
a) budget deficit
b) budget shortage
c) budget over-run
d) budget surplus

A bond represents a debt for an organization
a) True
b) False
c)
d)

All people above 16 who are actively working or seeking work make up the ________.
a) a. unemployment rate
b) b. creditor pool
c) c. labor force
d) d. labor organization

If you want to save money at a savings institution, you would be most interested in the ________.
a) a. prime rate
b) b. discount rate
c) c. certificate of deposit rate
d) d. T-bill rate

Without personal saving, businesses could not carry out capital projects
a) True
b) False
c)
d)

The Consumer Price Index (CPI) is a measure of ________.
a) a. inflation
b) b. consumer debt
c) c. retail sales
d) d. interest rates

There has never been a true depression in the United States
a) True
b) False
c)
d)

The recurring ups and downs of gross domestic product (GDP) in an economy is called the ________.
a) a. stock market
b) b. bond market
c) c. money cycle
d) d. business cycle

Gross domestic product (GDP) is the dollar value of all ________.
a) a. final goods and services produced in a country during one year
b) b. goods and services produced in a country during one year
c) c. intermediate and final goods and services produced in a country during one year
d) d. final goods and services produced in, or imported to, a country during one year

Gross domestic product (GDP) per capita is calculated by ________.
a) a. dividing GDP by the total population
b) b. multiplying GDP by the total population
c) c. dividing GDP by the Consumer Price Index
d) d. multiplying GDP by the Consumer Price Index

If intermediate goods were counted as a part of gross domestic product (GDP), the value of these goods would be counted twice
a) True
b) False
c)
d)

Deflation has occurred in the United States.
a) True
b) False
c)
d)

Debt is harmful to a company.
a) True
b) False
c)
d)

If the inflation rate was 3 percent in each of the past three years, products that cost $500 three years ago would now cost approximately ________.
a) a. $515
b) b. $530
c) c. $545
d) d. $560

________ is a period in which demand begins to decrease, businesses lower production, unemployment begins to rise, and GDP growth slows for two or more quarters of the calendar year.
a) a. Depression
b) b. Deflation
c) c. Recession
d) d. Recovery

All of the following can increase productivity except ________.
a) a. improved technology
b) b. better training for workers
c) c. improved management techniques
d) d. increased wages for workers

Consumer debt includes each of the following except ________.
a) a. unspent consumer income
b) b. home mortgages
c) c. unpaid credit card balances
d) d. auto loans

When you purchase a corporate bond, you become one of the corporation's ________.
a) a. owners
b) b. creditors
c) c. equity holders
d) d. borrowers

The ________ is the interest rate that banks make available to their best business customers.
a) a. discount rate
b) b. corporate bond rate
c) c. mortgage rate
d) d. prime rate

A ________ represents a unit of ownership in a corporation.
a) a. corporate bond
b) b. certificate of deposit
c) c. share of corporate stock
d) d. mortgage

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