EPF.4 & EPF.5 QUIZ

A colorful infographic depicting business cycles, unemployment statistics, and economic indicators with charts and graphs, creating a vibrant educational aesthetic.

EPF Business and Economics Quiz

Test your knowledge on key concepts related to economic cycles, unemployment, and the labor force with this engaging quiz. Designed for learners seeking to enhance their understanding of economics.

10 thought-provoking questions
Focus on real-world economic principles
Ideal for students and anyone interested in economics

10 Questions2 MinutesCreated by AnalyzingData423

BUSINESS CYCLES > 1. During a business cycle, an economic expansion occurs:

At the peak of the business cycle

At the trough of the business cycle

In between the peak and the trough

In between the trough and the peak

UNEMPLOYMENT > 2. Which of the following would be included as a person seeking employment?

A full-time college student

A recent high school graduate looking for their first job

A homemaker contributing 15 hours per week as a volunteer worker at a hospital

A retired school teacher collecting Social Security benefits

WORK FORCE > 3. Suppose that more men decided to become "stay at home" dads to raise their school-aged children, we would then expect:

The labor force participation rate for males to increase

The labor force participation rate for males to decrease

The labor force participation rate for males to remain the same

The impact on the labor force participation rate for males to be unpredictable

UNEMPLOYMENT> 4. Unemployment caused by a recession is called:

Frictional unemployment

Cyclical unemployment

Natural unemployment

Structural unemployment

BUSINESS CYCLE > 5. Performance indicators are:

Used to gauge current economic growth conditions

Used to roughly approximate future economic conditions

Used to predict future economic growth conditions

Good at predicting expansion and contractions

UNEMPLOYMENT > 6. Which of the following would NOT be considered unemployed?

An auto worker vacationing in Florida during a company layoff period

A graduated college student actively seeking a job

A constructin worker who has been actively looking for work after 18 months without a job

A retiree actively looking for part-time work to supplement Social Security income

UNEMPLOYMENT > 7. Which of the following types of unemployment is considered to be under the control of the worker

Frictional unemployment

Natural unemployment

Cyclical unemployment

Structural unemployment

WORK FORCE > 8. The total population (adult working age) of Nowhereland is 48 million. Of this total, 4 million are unemployed and 36 million currently are employed. What are the rates of unemployment and the labor force participation rate of Nowhereland adults?

The rate of unemloyment is 11%, and the labor force participation rate is 83%

The rate of unemloyment is 10%, and the labor force participation rate is 75%

The rate of unemloyment is 10%, and the labor force participation rate is 83%

The rate of unemloyment is 11%, and the labor force participation rate is 90%

INFLATION > 9. The definition of inflation:

A general decrease in prices across the economy

An economy experiencing rising prices in technology only

A general increase in prices across an economy

A period of rapid increases in prices in food prices

EPF.4 & EPF.5 QUIZ

EPF Business and Economics Quiz

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