Measuring Economic Performance Test
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First name *
1. What is the total market value of all final goods and services produced annually in a country known as? *
1 point
2. What type of good is sold to its final user? *
1 point
3. What type of good has not reached its final user (like a bun used for a hamburger)? *
1 point
4. What is counting a good more than once known as? *
1 point
5. Paper, that can be used for magazines and newspapers, are what type of good? *
1 point
6. A car is an example of what type of good? *
1 point
7. Which of the following is not included in GDP? *
1 point
8. What measures the total market value of final goods and services produced by U.S. citizens, no matter here in the world they reside? *
1 point
9. What are expenditures made by the business sector called? *
1 point
10. What are expenditures made by the household sector called? *
1 point
11. What are expenditures made by the government sector called? *
1 point
12. What are expenditures made by the residents of other countries on goods produced in the United States called? *
1 point
13. What category would it fall under if a family goes out and buys a Blu-Ray movie? *
1 point
14. What category would it fall under if a business bought new machines to speed up work? *
1 point
15. What category would it fall under if the government bought a new aircraft carrier? *
1 point
16. What category would it fall under if someone in Switzerland bought a sweater made in the U.S.? *
1 point
17. What is it called when Americans spend money on foreign-produced goods? *
1 point
18. What is the formula for GDP? *
1 point
19. What is a benchmark year chosen as a point of reference for a comparison called? *
1 point
20. Which type of GDP is equal to the price in the base year times the quantity in the current year? *
1 point
21. What is a price index? *
1 point
22. What is the most widely cited price index called? *
1 point
23. What formula shows a percentage change in price? *
1 point
24. What formula shows a percentage change in the consumer price index? *
1 point
25. What is the percentage change in CPI in the following problem:     188.9 - 184.0 / 184 x 100 = ? *
1 point
26. What is the percentage change in price in the following problem:    21,500 - 20,000/20,000 x100 = ? *
1 point
27. What curve shows the quantity of goods and services that buyers are willing and able to buy at different price levels? *
1 point
28. What curve shows the quantity of goods and services that producers are willing and able to supply at different price levels? *
1 point
29. What is the percentage of the civilian labor force that is unemployed called? *
1 point
30. What is the percentage of the non-institutional adult civilian population that is employed called? *
1 point
31. How do you calculate the unemployment rate? *
1 point
32. How do you calculate the employment rate? *
1 point
33. If the civilian labor force totals 10 million and the number of persons unemployed is at one million, then what is the unemployment rate? *
1 point
34. Persons in the civilian workforce are divided into what two groups? *
1 point
35. What is the formula for finding who makes up the civilian workforce? *
1 point
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