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- 1. Multiple Choice
When I say Gross Domestic Product what am I talking about?
Disgusting Home Things
Total value of goods and services produced by a country
Big measure of stuff made in the world
I don't know
- 2. Multiple Choice
When the word capita means this when we talk about the economy:
Sofia
A capital
People
I don't know
- 3. Multiple Choice
Income does NOT mean which of the following:
The amount of money earned by a family in a year.
The amount of money earned by one person per paycheck.
The amount of money paid for goods and services.
The amount of money a company makes in a year.
- 4. Multiple Choice
Inequality means something is:
Completely equal
Not equal at all
Equality
I don't know
- 5. Multiple Choice
True or False? Inflation is when the value of currency falls but prices of goods and services go up.
true
false
- 6. Multiple Choice
When the prices of goods and services goes down and the value of currency goes up that is considered what?
Deflation
Inflation
Hyperinflation
I don't know
- 7. Multiple Choice
Which of the following are factors of economic development? (There may be more than one right answer!)
Geographical
Technological
Demographical
Ecological
- 8. Multiple Choice
A command economy is
when the people determine economic decisions.
when someone tells the economy what to do.
when the government makes all the economic decisions.
I don't know.
- 9. Multiple Choice
A free market economy is
when the people determine economic decisions.
when no one tells the economy what to do.
when the government makes all the economic decisions.
I don't know.
- 10. Multiple Choice
What is income inequality?
When someone doesn't get paid the right amount.
When a few people get the most money.
When people only work part-time.
I don't know
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