Mod 2 Practice Quiz

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Mod 2 Practice Quiz

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Last name *

Class period *

1st

2nd

3rd

4th

5th

6th

7th

8th

1. During the recession phase of a business cycle, which of the following is likely to increase? *

1 point

a. the unemployment rate

b. the price level

c. economic growth rates

d. the labor force

e. wages

2. The labor force is made up of everyone who is *

1 point

a. employed

b. old enough to work

c. actively seeking work

d. employed or unemployed

e. employed or capable of working

3. A sustained increase in aggregate output over several decades represents *

1 point

a. an expansion

b. a recovery

c. a recession

d. a depression

e. economic growth

4. Which of the following is the most likely result of inflation? *

1 point

a. falling employment

b. a dollar will buy more than it did before

c. people are discouraged from holding cash

d. price stability

e. low aggregate output per capita

5. Which of the following are components of GDP? Choose all that apply. *

1 point

Consumer Spending

Investment Spending from businesses

Government spending

Exports to other nations

Taxes

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