Economics Quiz - Student Made - Ch. 12 - Period 3

10 Questions | Total Attempts: 48

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Student Quizzes & Trivia

Mr. Campbell's student made economics quiz.


Questions and Answers
  • 1. 
    A shift in aggregate supply or aggregate demand will have an impact on:I. Real GDPII. Price LevelIII. Intermediate GoodsIV. Population
    • A. 

      I and II

    • B. 

      II and III

    • C. 

      III and IV

    • D. 

      I and III

  • 2. 
    In aggregate demand if the price leve rises, purchasing power _____________, causing a reduction in quantity of goods and services demanded.
    • A. 

      Increase

    • B. 

      Decreases

    • C. 

      Stays the same

    • D. 

      None of the above

  • 3. 
    What are some factors that can cause contraction and expansion?
    • A. 

      Investments in business

    • B. 

      Banks no loaning money

    • C. 

      Consumers deciding to spend

    • D. 

      All of the above

  • 4. 
    Fears of a weakening economy can cause consumer confidence to fall leading to
    • A. 

      Expansion

    • B. 

      Contraction

    • C. 

      External shock

    • D. 

      Population growth

  • 5. 
    In macroeconomics there are periods of expansion followed by periods of contraction, this is known as
    • A. 

      Economic growth

    • B. 

      Business cycle

    • C. 

      Stagflation

    • D. 

      Depression

  • 6. 
    The lowest point in the business cycle in which uemployment is highest is known as:
    • A. 

      Contraction

    • B. 

      Trough

    • C. 

      Downturn

    • D. 

      Peak

  • 7. 
    GDP is a method used to find the standard of living, but can not completely measure:
    • A. 

      The nation's total income

    • B. 

      The total of consumer, buisness, and government spending

    • C. 

      The dollar value of all goods and services produced

    • D. 

      Quality of life issues

  • 8. 
    Improving technology can
    • A. 

      Increase production costs

    • B. 

      Deepen captial

    • C. 

      Measure economic growth

    • D. 

      Measure GDP

  • 9. 
    A recession taht is especially long and severe is known as:
    • A. 

      Stagflation

    • B. 

      Contraction

    • C. 

      Depression

    • D. 

      Captial deepening

  • 10. 
    The amount of output produced per worker is known as
    • A. 

      Captial deepening

    • B. 

      Labor productivity

    • C. 

      Human captial

    • D. 

      Physical capital

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