|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.
Multiple Choice Questions
1. When was the Federal Reserve Act enacted?
2. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the second?
(a) National savings.
(c) Income inequality.
3. According to the author in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?
4. OPEC has maintained its headquarters where since 1965?
5. When did the Korean War end?
Short Answer Questions
1. What refers to law which has been enacted by a legislature or other governing body, or the process of making it?
2. What does CEO stand for?
3. In an insurance policy, what is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses?
4. Human capital is extremely important in economics because it is also tied together with what?
5. What refers to economy-wide fluctuations in production or economic activity over several months or years?
This section contains 198 words
(approx. 1 page at 300 words per page)