Economics EOCT Review #3 - Macroeconomics For High School Question Preview (ID: 40149)


This Review Is For The Updated Georgia EOC Test Based On The New GSE Standards Of 2017. This Review Will Focus On Macroeconomics. TEACHERS: click here for quick copy question ID numbers.

Which of the following is NOT correct about the business cycle?
a) Recession occurs during a Contraction for a few months
b) Recovery occurs during a Trough for several months
c) Peaks occur after a Recovery
d) the GDP grows during and Expansion

What serves as a medium of exchange, standard of value, and store or value?
a) money
b) taxes
c) credit unions
d) stocks

The Federal Reserve System has all the following EXCEPT:
a) 12 District Banks
b) Board of Governors
c) Federal Open Market Committee
d) a Congressional Committee

During a period of economic growth which of the following is likely occurring:
a) taxes are high and employment is low
b) inflation is rising and employment is rising
c) the Fed is carrying out tight money policies
d) the business cycle is contracting

Which Monetary Tool buys or sells government bonds:
a) the amount of required reserves
b) interest on required reserves
c) discount rate
d) federal open market committee

Which of the following attempt to keep prices stable and employment full:
a) fiscal and monetary policy
b) CPI and real GDP
c) transfer payments and the UFO
d) credit unions and labor unions

The national debt increases whenever:
a) Congress passes a law
b) the government has budget deficits
c) taxes raises the government revenue above the budgeted expenditures
d) the government has budget surpluses

To stimulate growth in the economy, the government's Fiscal Policy is oftentimes to:
a) sell government bonds
b) print and distribute lots of additional cash
c) lower taxes and/or increase government spending
d) follow tight money policies

Which tool of the Fed is used the least often because it has lots of influence on the economy?
a) buy or sell on the securities on the open market operations.
b) change the interest on the Required Reserves
c) change the Required Reserves
d) change the Discount Rate

The sum of Consumer Spending, Investment, Government Spending, and Net Exports is:
a) Consumer Price Index
b) North American Free Trade Agreement
c) Gross Domestic Product
d) National Deficit

Which of the following is used to compare the strength of economies:
a) CPI
b) GDP
c) COLA
d) UGA

What does the Consumer Price Index measure?
a) Inflation
b) Contraction
c) Unemployment
d) the Stock Market

Unanticipated inflation hurts people with:
a) COLA's
b) fixed incomes
c) growth stocks and other investments
d) many tax breaks

Which statement below is NOT correct about unemployment?
a) Cyclical unemployment occurs due to the flow of the business cycle
b) Structural unemployment occurs due to the delay between one job and your next job
c) Unemployment only counts people who are seeking employment - not couch potatoes
d) Seasonal unemployment occurs due to the weather's seasonal changes

Which is NOT a goal of Macroeconomics?
a) paying off the national debt
b) full employment
c) stable prices
d) steady economic growth

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