BUSN 11 Chapter 2 Practice Test Questions with Correct Answers
7 views 0 purchase
Course
BUSN 11
Institution
BUSN 11
BUSN 11 Chapter 2 Practice Test Questions with Correct Answers
Identify a true statement about real gross domestic product (GDP)? - Answer-It usually tends to be understated as it does not include any illegal activities.
The _____ is the percentage of people in the labor force over age 16 who ...
BUSN 11 Chapter 2 Practice Test
Questions with Correct Answers
Identify a true statement about real gross domestic product (GDP)? - Answer-It usually
tends to be understated as it does not include any illegal activities.
The _____ is the percentage of people in the labor force over age 16 who do not have
jobs and are actively seeking work. - Answer-unemployment rate
The periodic contraction and expansion that occur over time in virtually every economy
is known as the _____. - Answer-business cycle
The prices of all the commodities have gone up in the country of Sraznesia, and this
has led to country-wide protests. The situation worsens as the average prices increase
more than 50% a month, resulting in more aggressive protests from the citizens. In the
given scenario, this price rise will most likely lead to _____. - Answer-hyperinflation
The _____ is a measure of inflation that evaluates the change over time in the
weighted-average wholesale values. - Answer-producer price index
In the context of evaluating economic performance, which of the following statements is
true of productivity? - Answer-A low level of productivity tends to correlate with a
stagnant economy.
In the context of fiscal policy, most economists agree that: - Answer-lower taxes can
leave more money in people's pockets for them to spend or invest.
Which of the following statements is true of the fiscal cliff? - Answer-It was a package of
draconian across-the-board spending cuts.
Which of the following statements best describes a budget deficit? - Answer-It is the
shortfall that occurs when expenses are higher than revenue over a given period of
time.
In the context of monetary policy, which of the following statements is true of
commercial banks? - Answer-They accept demand deposits and make loans for the
public
In the context of monetary policy, which of the following statements is true of open
market operations? - Answer-They involve securities that the government issues to
finance its deficit spending.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Scholarsstudyguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
