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Economics Vocabulary Quiz 2

20 Questions  I  By Jessicaleague
Economics Quizzes & Trivia
Choose the best term to match the definition.   This is for practice only.   Results are not graded.   You may take this quiz as often as you wish.  

  
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Question Excerpt

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1.  Unemployment that rises during economic development and falls when the economy improves. 
A.
B.
C.
D.
2.  A recession that is especially long and severe. 
A.
B.
C.
D.
3.  Rate the Federal Reserve charges for loans to commercial banks. 
A.
B.
C.
D.
4.  A business owned and managed by a single individual. 
A.
B.
C.
D.
5.  The use of government spending and revenue collection to influence the economy. 
A.
B.
C.
D.
6.  The amount of goods and services in the economy. 
A.
B.
C.
D.
7.  A minimum price for a good or service. 
A.
B.
C.
D.
8.  Goods used in place of each other. 
A.
B.
C.
D.
9.  A period of macroeconomic expansion followed by a period of contraction. 
A.
B.
C.
D.
10.  A market structure in which a few large firms dominate a market. 
A.
B.
C.
D.
11.  A business organization owned by two or more persons who agree on a specific division of responsibilities and profits. 
A.
B.
C.
D.
12.  A situation in which the government spends more than it takes in. 
A.
B.
C.
D.
13.  A market dominated by a single seller. 
A.
B.
C.
D.
14.   A price index determined by measuring the price of a standard group of goods meant to represent the typical "market basket" of a typical urban consumer.
A.
B.
C.
D.
15.  The total amount of goods and services in the economy that are consumed. 
A.
B.
C.
D.
16.  A market structure in which a large number of firms all produce the same product. 
A.
B.
C.
D.
17.  The amount of goods available. 
A.
B.
C.
D.
18.  The nation's central banking system 
A.
B.
C.
D.
19.  Unemployment that occurs when people take time to find a job. 
A.
B.
C.
D.
20.  A maximum price that can be legally charged for a good or service. 
A.
B.
C.
D.
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