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Local Economic Indicators and Statistics

Local Economic Indicators and Statistics Quiz

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Questions

Question 1 Multiple Choice (Single Answer)

Which of the following is NOT a common measure of local economic activity?

  1. Gross Domestic Product (GDP)
  2. Unemployment Rate
  3. Consumer Price Index (CPI)
  4. Average Household Income
Question 2 Multiple Choice (Single Answer)

What is the unemployment rate?

  1. The percentage of the labor force that is employed
  2. The percentage of the labor force that is unemployed
  3. The percentage of the population that is employed
  4. The percentage of the population that is unemployed
Question 3 Multiple Choice (Single Answer)

What is the Consumer Price Index (CPI)?

  1. A measure of the average price of goods and services purchased by consumers
  2. A measure of the average price of goods and services produced by businesses
  3. A measure of the average price of goods and services exported by a country
  4. A measure of the average price of goods and services imported by a country
Question 4 Multiple Choice (Single Answer)

What is average household income?

  1. The total income of all households in a given area divided by the number of households
  2. The total income of all individuals in a given area divided by the number of individuals
  3. The total income of all businesses in a given area divided by the number of businesses
  4. The total income of all governments in a given area divided by the number of governments
Question 5 Multiple Choice (Single Answer)

Which of the following is NOT a common source of local economic data?

  1. The U.S. Census Bureau
  2. The Bureau of Labor Statistics
  3. The National Bureau of Economic Research
  4. The local chamber of commerce
Question 6 Multiple Choice (Single Answer)

What is the most common measure of local economic growth?

  1. Gross Domestic Product (GDP)
  2. Gross National Product (GNP)
  3. Net Domestic Product (NDP)
  4. Net National Product (NNP)
Question 7 Multiple Choice (Single Answer)

What is the difference between GDP and GNP?

  1. GDP includes the value of goods and services produced by foreign-owned businesses in a given area, while GNP does not.
  2. GDP includes the value of goods and services produced by domestic-owned businesses in a given area, while GNP does not.
  3. GDP includes the value of goods and services produced by businesses in a given area, while GNP includes the value of goods and services produced by individuals.
  4. GDP includes the value of goods and services produced by individuals in a given area, while GNP includes the value of goods and services produced by businesses.
Question 8 Multiple Choice (Single Answer)

What is the difference between NDP and NNP?

  1. NDP includes the value of depreciation, while NNP does not.
  2. NDP does not include the value of depreciation, while NNP does.
  3. NDP includes the value of indirect taxes, while NNP does not.
  4. NDP does not include the value of indirect taxes, while NNP does.
Question 9 Multiple Choice (Single Answer)

What is the most common measure of local unemployment?

  1. The unemployment rate
  2. The labor force participation rate
  3. The employment-to-population ratio
  4. The job vacancy rate
Question 10 Multiple Choice (Single Answer)

What is the difference between the unemployment rate and the labor force participation rate?

  1. The unemployment rate is a measure of the percentage of the labor force that is unemployed, while the labor force participation rate is a measure of the percentage of the population that is in the labor force.
  2. The unemployment rate is a measure of the percentage of the population that is unemployed, while the labor force participation rate is a measure of the percentage of the labor force that is unemployed.
  3. The unemployment rate is a measure of the percentage of the labor force that is employed, while the labor force participation rate is a measure of the percentage of the population that is employed.
  4. The unemployment rate is a measure of the percentage of the population that is employed, while the labor force participation rate is a measure of the percentage of the labor force that is employed.
Question 11 Multiple Choice (Single Answer)

What is the difference between the employment-to-population ratio and the job vacancy rate?

  1. The employment-to-population ratio is a measure of the percentage of the population that is employed, while the job vacancy rate is a measure of the percentage of jobs that are vacant.
  2. The employment-to-population ratio is a measure of the percentage of the labor force that is employed, while the job vacancy rate is a measure of the percentage of jobs that are vacant.
  3. The employment-to-population ratio is a measure of the percentage of the labor force that is unemployed, while the job vacancy rate is a measure of the percentage of jobs that are vacant.
  4. The employment-to-population ratio is a measure of the percentage of the population that is unemployed, while the job vacancy rate is a measure of the percentage of jobs that are vacant.
Question 12 Multiple Choice (Single Answer)

Which of the following is NOT a common measure of local inflation?

  1. The Consumer Price Index (CPI)
  2. The Producer Price Index (PPI)
  3. The Personal Consumption Expenditures Price Index (PCEPI)
  4. The Employment Cost Index (ECI)
Question 13 Multiple Choice (Single Answer)

What is the difference between the CPI and the PPI?

  1. The CPI is a measure of the average price of goods and services purchased by consumers, while the PPI is a measure of the average price of goods and services produced by businesses.
  2. The CPI is a measure of the average price of goods and services produced by businesses, while the PPI is a measure of the average price of goods and services purchased by consumers.
  3. The CPI is a measure of the average price of goods and services exported by a country, while the PPI is a measure of the average price of goods and services imported by a country.
  4. The CPI is a measure of the average price of goods and services imported by a country, while the PPI is a measure of the average price of goods and services exported by a country.
Question 14 Multiple Choice (Single Answer)

What is the difference between the PCEPI and the CPI?

  1. The PCEPI is a measure of the average price of goods and services purchased by consumers, while the CPI is a measure of the average price of goods and services produced by businesses.
  2. The PCEPI is a measure of the average price of goods and services produced by businesses, while the CPI is a measure of the average price of goods and services purchased by consumers.
  3. The PCEPI is a measure of the average price of goods and services exported by a country, while the CPI is a measure of the average price of goods and services imported by a country.
  4. The PCEPI is a measure of the average price of goods and services imported by a country, while the CPI is a measure of the average price of goods and services exported by a country.
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