Economic Objective | Quizizz 20-4-24, 16:04

Worksheets Name

Economic Objective
Class
Total questions: 13
Worksheet time: 5mins
Date
Instructor name: Meeranath Premjith

1. When inflation is high the _______________of the dollar decreases

a) validity b) cost value

c) importance d) purchasing power

2. An index that measures the prices of a market basket of goods that typical consumers
purchase.

a) Bank b) Deflation
c) Federal Reserve d) Consumer Price Index

3. What 2 types of inflation are there?

a) demand pull and supply glut b) supply glut and demand side
c) demand pull and cost push d) supply inflation and demand inflation

4. What the definition of deflation?

a) decrease in the average price of goods b) occurs when the price of goods and
and services services rise
c) I don't know d) increase in prices

5. What causes demand pull inflation?

a) a decrease in price due to a decrease in b) rise in price due to a decrease in supply

supply
c) a rise in price due to an increase in the d) a rise in price level due to an increase in
cost of production consumption

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6. a student who just graduated from college and is waiting to start their new job is...

a) structurally unemployed b) cyclically unemployed

c) frictionally unemployed d) technologically unemployed
e) seasonally unemployed

7. When individuals lose jobs due to a decline in the economy (aggregate demand), often
during an economic recession.

a) Structural Unemployment b) Frictional Unemployment

c) Cyclical Unemployment d) Seasonal Unemployment

8. Farm helpers are unemployed when the cropping season is over.

a) cyclical b) structural
c) seasonal d) frictional

9. Economic growth measures the

a) b) Increase in nominal income b) c) Increase in output

c) d) None of the above d) a) Growth of productivity

10. Which of the following explains the term economic growth

a) d) All of the above b) b) Increase in per capita real income

c) c) Structural change in the economy d) a) Increase in per capita production

11. Economic growth is a situation where an economy's real GDP increase.

a) False b) True

12. Economic growth is a situation where an economy's real GDP increase.

a) True b) False

13. To focus on producing one thing to improve productivity is known as:

a) International trade b) Specialization

c) Supply and Demand d) Absolute Advantage

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Answer Keys
1. d) purchasing power 2. d) Consumer Price 3. c) demand pull and cost
Index push

4. a) decrease in the 5. d) a rise in price level 6. c) frictionally

average price of goods due to an increase in unemployed
and services consumption

7. c) Cyclical 8. c) seasonal 9. b) c) Increase in

Unemployment output

10. a) d) All of the above 11. b) True 12. a) True

13. b) Specialization

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