Business Quiz: Measuring Economic Activity

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Questions: 20 | Attempts: 1,121 | Updated: Mar 18, 2023

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The test covers ch 2 which provides students with an understanding of measurements commonly used to gauge economic activity and business conditions in our society.

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Current Version
Mar 18, 2023

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Mar 22, 2013

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Business Quiz: Measuring Economic Activity

The most widely used measure of national output is called:

This measure compares the prices of a group of selected items each year to some earlier year:

Another way to measure economic growth is output per person also known as:

Which of the following would not be included in GDP?

Productivity would likely increase as a result of:

Retail sales include:

The movement of the economy from one condition to another and back again is called:

A period in usually the high point of the business cycle is known as:

An increase in the general level of prices is called:

Deflation results in lower buying power of money.

When consumers increase their borrowing, interest rates tend to decline.

The phase of a business cycle in which unemployment is the highest is:

Money spent by a business for items, such as land, buildings, equipment, that will be used for a long period of time:

This investment item represents debt for an organization:

When a government spends more than it takes it, this situation creates a:

Equity refers to:

Which of the following would most likely cause a budget surplus for government?

Which country has the highest GDP per capita as of reported in February 2020?

The total amount owed by the federal government is called the:

This represents ownership in a corporations: