GDP
True or False: A country can have a very high GDP but a low GDP per capita.
True
Most central banks in developed economies aim for an inflation rate close to:
1-2% per year
If a pizza is cut into 8 equal slices and you eat 25% of it, how many slices did you eat?
2
Which age group usually experiences the highest unemployment rates?
Teenagers and young adults
Which economic indicator do we use to graph business cycle?
Real GDP
Which country has the largest GDP in the world?
USA
What does CPI stand for?
Consumer Price Index
How much is 20 − 20%?
16
During the Great Depression of the 1930s, unemployment in the United States rose to:
25%
On which stage of the business cycle is currently USA?
Expansion
Which country has the largest GDP in the world?
Luxembourg
What is deflation?
Dicrease in prices
What is 0.5 ÷ 0.5?
1
Are prepa students considered as unemployed since they are not currently working?
No
What is the lowest point of the business cycle called?
Trough
Which continent contains the most countries with trillion-dollar GDP's?
Asia, including China, Japan, India, South Korea, Indonesia, Saudi Arabia, and others.
What was the inflation rate in Mexico last year?
Almost 4%
75 divided by 5?
15
If 5 out of 100 workers are unemployed, what is the unemployment rate?
5%
Which famous event beginning in 1929 led to one of the deepest and longest recessions in modern history?
The Great Depression
Which country has a larger GDP: Canada or Mexico?
Mexico slightly bigger
If inflation is 10% per year, what happens to purchasing power?
Decreases
Multiply 7 by 8
56
What is the current unemployment rate in Mexico?
About 3%
Which fast-food hamburger cost about 15 cents when the restaurant chain founded in the 1940s?
A McDonald's hamburger.