ECON - Unit 4A Question Preview (ID: 62137)


SSEMA1a. TEACHERS: click here for quick copy question ID numbers.

What is the study of the economic decisions made by countries and their governments?
a) macroeconomics
b) microeconomics
c) ###
d) ####

Economic growth, price stability, and full employment are:
a) macroeconomic goals
b) departments in the FED
c) the three main elements of monetary policy
d) ####

The total value of all final goods and services produced by a country in a year... is called:
a) gross domestic product (GDP)
b) gross national product (GNP)
c) per capita GDP
d) per capita GNP

Consumer spending, investment, government spending, and net exports represent:
a) the value of GDP
b) the value of GNP
c) the goals of the FED
d) ####

Financial transactions, secondhand sales, and intermediate goods:
a) are NOT included in GDP
b) are included in GDP
c) ###
d) ####

The Consumer Price Index (CPI) is used to measure:
a) inflation
b) GDP
c) per capita GDP
d) the value of the Stock Market

Housing, transportation, medical care, and recreation are key categories in:
a) the CPI
b) deflation
c) the unemployment rate
d) ####

Inflation is:
a) an increase in the price level over time
b) a decrease in the price level over time
c) ###
d) ####

When inflation occurs:
a) the purchasing power of the dollar goes down
b) the purchasing power of the dollar goes up
c) ###
d) ####

The Real GDP is established when:
a) the GDP is adjusted for inflation
b) the GDP is divided by the population
c) the FED becomes involved
d) ####

A small amount of inflation is considered:
a) healthy
b) unhealthy
c) ###
d) ####

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