Macro Made Simple
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Unit 2 · Economic Indicators & the Business Cycle

Unit 2 Practice

Do this after the Unit 2 learning page. Work the five topic quizzes first — each question explains itself the moment you answer. Then write both free-response questions against the real rubric, and finish with the 60-point full-length test.

Topic Quiz 1: The Circular Flow & GDP Basics

10 questions · explanations appear as you answer

Answered 0/10

  1. 1.In the circular flow model, when a household provides labor to a business and receives a wage in return, this transaction takes place in the:
  2. 2.GDP measures the total market value of:
  3. 3.Which GDP measurement approach is used for calculations in this course?
  4. 4.A family buys a new washing machine for their home. This is counted in GDP as:
  5. 5.A developer builds 50 new apartment units. This is counted in GDP as:
  6. 6.Which of the following is EXCLUDED from Government purchases (G) in GDP?
  7. 7.Which of the following is NOT counted as part of Gross Private Domestic Investment (Ig)?
  8. 8.If a country's exports total $500 billion and its imports total $600 billion, its net exports (Xn) are:
  9. 9.Which of the following is generally NOT counted in GDP?
  10. 10.GDP per capita is calculated by: