ECON - Unit 4 BOOM Question Preview (ID: 62213)


SSEMA1 - SSEMA3. TEACHERS: click here for quick copy question ID numbers.

Investment, consumer spending, net exports, and government spending... are added together to obtain:
a) GDP
b) the CPI
c) the unemployment rate
d) the national debt

Inflation is the concept that the value of currency is:
a) decreasing
b) increasing
c) remaining the same
d) ####

Which of the following groups is helped by inflation?
a) borrowers
b) lenders
c) ###
d) ####

Individuals who are not currently seeking jobs:
a) are not counted in a country's unemployment rate
b) are counted in a country's unemployment rate
c) ###
d) ####

Which type of unemployment occurs from an overall downturn in the economy?
a) cyclical
b) seasonal
c) frictional
d) structural/technological

A recession occurs when contraction lasts for at least:
a) 6 months
b) 2 years
c) 5 years
d) 1 month

Which organization is nicknamed the 'lender of last resort?'
a) the FED
b) the Department of the Treasury
c) the Bureau of Labor Statistics
d) ####

When interest rates increase, it is usually followed by:
a) contraction
b) expansion
c) ###
d) ####

Spending and taxes are:
a) two fiscal policy tools
b) two measures of inflation
c) included in the CPI
d) ####

When the government spends more than it collects in revenue, it leads to:
a) a deficit
b) a surplus
c) ###
d) ####

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