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UExcel Introduction to Macroeconomics Quiz

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1. What does GDP stand for?

2. Which of the following best describes inflation?

3. What is the primary goal of monetary policy?

4. How is the unemployment rate calculated?

5. Which of the following is an example of a fiscal policy measure?

6. What does the term 'labor force participation rate' refer to?

7. What economic indicator would likely increase during a recession?

8. Which of the following statements about the balance of trade is true?

9. What role does the federal reserve play in regulating the money supply?

10. What impact does a high inflation rate have on the purchasing power of money?