Two consecutive three-month periods of decline in a country's gross
domestic product signifies that the country is experiencing
a) a recession
b) a trade deficit
c) a rise in inflation
d) a stock-market crash
Ques. 2In an economic context, the word deficit means
a) reduced money supply
b) decrease in available credit
c) inadequate or insufficient funds
d) decline in leading economic indicators
Ques. 3The total dollar value of all goods and services produced by all citizens in the
United States in a given one-year period is referred to as
a) gross national product (GNP)
b) U.S. labor productivity
c) Dow Jones Industrial Average
d) national economic growth rate
Ques. 4The net income of a firm consists of the
a) average level of output per worker per hour
b) resources and properties owned by the firm
c) revenue generated by the firm during a single fiscal year
d) profit earned after all expenses have been subtracted from total income
Ques. 5The person responsible for managing the day-to-day operations of a company
is the
a) CEO
b) auditor
c) CFO
d) trustee
____
Ques. 6The term entrepreneur refers to a person who
a) manages a small business
b) operates a commercial franchise
c) owns a company with 20 or fewer employees
d) initiates and assumes the risks of starting a new business
Ques. 7The gross income of a company consists of
a) the profit earned by the company
b) the value of earnings distributed to shareholders
c) the company's total income before expenses are deducted
d) the remaining value of the company once debts are subtracted
Quick Reply
