Economic Indicators and Measurements Quiz
Test your knowledge on economic indicators, GDP, CPI, unemployment, and more in this macroeconomics quiz.
#1
What does the Gross Domestic Product (GDP) measure?
The total population of a country
The total value of goods and services produced in a country
The total government spending in a country
The total exports and imports of a country
#2
What does the Consumer Price Index (CPI) measure?
The overall health of the stock market
The average prices of a basket of goods and services
The interest rates set by central banks
The total government debt of a country
#3
Which economic indicator is often referred to as the 'cost of living index'?
Consumer Price Index (CPI)
Gross Domestic Product (GDP)
Unemployment Rate
Producer Price Index (PPI)
#4
Which economic indicator is often used as a measure of a country's standard of living?
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Human Development Index (HDI)
Balance of Trade
#5
Which of the following is considered a lagging economic indicator?
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Unemployment Rate
Corporate Profits
#6
How is the unemployment rate calculated?
Number of employed people divided by the labor force
Number of unemployed people divided by the labor force
Number of unemployed people divided by the total population
Number of employed people divided by the total population
#7
Which of the following is not a component of the business cycle?
Expansion
Recession
Stagnation
Depression
#8
What does the term 'Fiscal Policy' refer to in economics?
Government actions to control inflation
Government's use of taxation and spending to influence the economy
Central bank's control over the money supply
A system of international trade agreements
#9
In economic terms, what is the 'Laffer Curve' used to illustrate?
The relationship between taxation and government spending
The impact of monetary policy on inflation
The trade-off between inflation and unemployment
The relationship between tax rates and government revenue
#10
In the context of economic indicators, what does the term 'leading indicator' mean?
An indicator that predicts future economic activity
An indicator that reflects current economic conditions
An indicator that lags behind changes in the economy
An indicator that measures inflation
#11
What is the purpose of the Producer Price Index (PPI)?
Measuring inflation from the perspective of producers
Calculating the GDP of a country
Assessing consumer spending patterns
Estimating the overall business sentiment
#12
Which of the following is a measure of income inequality?
Gini Coefficient
Consumer Confidence Index
Trade Balance
Money Supply
#13
What does the term 'Quantitative Easing' refer to?
Increasing interest rates to control inflation
Government intervention to manipulate exchange rates
Central bank's purchase of financial assets to increase money supply
A method to regulate stock market volatility
#14
What is the Phillips Curve in economics?
A curve illustrating the relationship between inflation and unemployment
A curve depicting the supply and demand for labor
A curve representing the production possibilities of an economy
A curve showing the impact of interest rates on investment
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