1. Which of the following would not be included in GDP?
a. Exports to other countries
b. Purchases of computers by government
c. Automobiles purchased
d. Dinner preparation for your Family
What is Dinner preparation for your family?
100
True or False. Deflation results in lower buying power of money.
What is False?
100
1. Equity refers to
a. Reduced spending by government
b. Ownership in a company or other asset
c. Borrowing to finance a capital project
d. Increased government taxes
What is Ownership in a company or other asset?
100
The total amount owed by the federal government
What is National Debt?
100
The portion of people in the labor force who are not working.
What is Unemployment Rate?
200
2. Productivity would likely increase as a result of
a. Higher taxes
b. Expanded production technology
c. Decreased training programs
d. Lower government spending
What is Expanded production technology?
200
True or False. When consumers increase their borrowing, interest rates tend to decline.
What is false?
200
2. Which of the following would most likely cause a budget surplus for the government?
a. Higher spending
b. Lower spending
c. Higher buying
d. Lower taxes
What is Lower spending?
200
Is a number that compares prices in one year with some earlier base year.
What is Price Index?
200
Production output in relation to a unit of input, such as a worker
What is Productivity?
300
3. Retail sales include
a. Taxes collected
b. Companies buying new equipment
c. Borrowing by business
d. School supplies bought by students
What is School supplies bought by students?
300
3. The phase of the business cycle in which unemployment is the highest is
a. Recession
b. Recovery
c. Prosperity
d. Depression
What is depression?
300
The movement of the economy from one condition to another and back again
What is Business Cycle?
300
Represents ownership in a corporation.
What is Stock?
300
Output per person.
What is GDP per Capita?
400
Companies located in the Research Triangle Park reported that they have hired many graduates who have earned technology degrees from the local community college. Which resource will the graduates provide for the companies
A. Capital
B. Human
C. Natural
D. Service
What is human?
400
When a government agency reports annually the total amount spent to pay employees, this information is useful for which measurement of economic activities?
A. Consumer spending
B. GDP
C. Investment activities
D. Labor activities
What is GDP?
400
Is a period in which most people who want to work working, businesses produce goods and services in record numbers, wages are goods and the rate of GDP growth increases.
What is Prosperity?
400
The sales of durable and non durable goods bought by consumers.
What is Retail Sales?
400
refers to salaries and wages as well as investment income and government payments to individuals.
What is Personal Income?
500
6. Eddie decided he would use real butter for his baked goods. Which economic question does this address?
A. For whom to produce?
B. How to produce?
C. What to produce?
D. When to produce?
What is B. How to produce?
500
The total dollar value of all final goods and services produced in a country during one year.
What is Gross domestic Product?
500
Involve spending by business for items such as land, buildings, equipment, and new products
What is Capital Projects?
500
refers to salaries and wages as well as investment income and government payments to individuals.