Economic Indicators and Components Quiz
Test your knowledge on economic indicators like GDP, CPI, unemployment rate, and more. Learn the basics of macroeconomics with this quiz!
#1
What does the Consumer Price Index (CPI) measure?
The cost of living for a typical urban household
The total output of goods and services produced in a country
The value of a country's exports minus imports
The rate of inflation
#2
What does the unemployment rate measure?
The percentage of the population over 65 who are not in the labor force
The percentage of the labor force that is currently employed
The number of job vacancies compared to the number of unemployed individuals
The percentage of the labor force that is unemployed and actively seeking employment
#3
What does the term 'trade deficit' refer to?
When a country's imports exceed its exports
When a country's exports exceed its imports
When a country's trade is balanced with equal exports and imports
When a country's government spending exceeds its revenue
#4
What is the main purpose of the Gross Domestic Product (GDP)?
To measure the level of income inequality within a country
To evaluate the overall health and size of a country's economy
To determine the unemployment rate
To assess the level of government debt
#5
What does the term 'business cycle' refer to in economics?
The fluctuations in the stock market
The periodic expansion and contraction of economic activity
The movement of currency exchange rates
The process of starting a new business
#6
Which of the following is not considered a leading economic indicator?
Consumer Confidence Index
Gross Domestic Product (GDP) growth rate
Stock Market Performance
Unemployment Claims
#7
What does the term 'GDP per capita' represent?
The total value of all goods and services produced within a country in a year
The average income of a country's population
The ratio of government debt to a country's GDP
The inflation-adjusted value of a country's GDP
#8
What is the purpose of the Producer Price Index (PPI)?
To measure changes in the prices received by domestic producers for their output
To calculate the rate of inflation based on consumer spending habits
To determine the purchasing power of a country's currency
To assess the level of consumer confidence in the economy
#9
Which of the following is not a component of Gross Domestic Product (GDP)?
Government Spending
Consumer Spending
Investment
Foreign Aid
#10
What is the purpose of the Purchasing Managers' Index (PMI)?
To measure the confidence level of consumers in the economy
To assess the performance of manufacturing sector
To calculate the rate of inflation
To determine the stability of a country's currency
#11
Which of the following is a component of the Balance of Payments?
Government Budget Deficit
Trade Balance
National Debt
Consumer Spending
#12
Which of the following indicators is used to gauge the level of economic inequality within a country?
Gini Coefficient
Consumer Price Index (CPI)
Balance of Trade
Producer Price Index (PPI)
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