POBF 1.02 Question Preview (ID: 31303)
Understand Economic Conditions.
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Ted collects total population data and monetary value of producing products and services for several countries. This information would be useful for which measurement of economic activities?
a) Consumer spending
b) GDP
c) GDP per capita
d) Labor activities
Several beauty salons experienced fewer customers patronizing their businesses. As a result, the beauty salon owners released several employees. This information would be useful for which measurement of economic activities?
a) Consumer spending
b) GDP
c) GDP per capita
d) Labor activities
A group of people planning for a long-term financial goal purchased stock for several companies. This information would be useful for which measurement of economic activities?
a) Borrowing
b) Consumer spending
c) Investment activities
d) Labor activities
A medium-sized company used over $20,000 in credit to expand its inventory in time for seasonal sales. This information would be useful for which measurement of economic activities?
a) Borrowing
b) Consumer spending
c) Investment activities
d) Labor activities
A report about the economy reveals a high unemployment rate for an extended period of time, consumers are buying significantly less goods and services, and many businesses are closing. Which phase of the business cycle does this report cover
a) Depression
b) Prosperity
c) Recession
d) Recovery
A report covering several quarters about the economy includes that more companies are experiencing record high production and adding new employees. Also, wages and the rate of GDP are increasing significantly. Which phase of the business cycle doe
a) Depression
b) Prosperity
c) Recession
d) Recovery
Department stores report monthly to the state commerce office its total sales of goods and services. This information would be useful for which measurement of economic activities?
a) Browing
b) Consumer spending
c) Investment activities
d) Labor activities
A cosmetic company purchased an automatic wrapping machine that wraps a pallet of boxes in 30 seconds. To complete the same task manually, it would take an employee almost 3 minutes. This information would be useful for which measurement of econom
a) Consumer spending
b) GDP
c) GDP per capita
d) Labor activities
In a hypothetical economy, only 40 people were included and 15 pizzas were produced last year at $7 dollars each. This information would be useful for which measurement of economic activities?
a) Consumer spending
b) GDP
c) GDP per capita
d) Labor activities
When a government agency reports annually the total amount spent to pay employees, this information is useful for which measurement of economic activities?
a) Consumer spending
b) GDP
c) Investment activities
d) Labor activities
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