Economic Indicators Worksheet
This worksheet covers key economic indicators, their definitions, and their significance in analyzing economic performance at a Grade 12 level.
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Economic Indicators Worksheet
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Read each question carefully and provide your best answer. This worksheet assesses your understanding of key economic indicators and their role in economic analysis.
1. Which of the following is considered a lagging economic indicator?
Stock market performance
Unemployment rate
New building permits
Consumer confidence index
2. Gross Domestic Product (GDP) primarily measures:
The total income of a nation's citizens
The total value of goods and services produced within a country's borders
The rate of inflation over a period
The balance of trade between nations
3. A sustained increase in the general price level of goods and services in an economy over a period of time is known as .
4. The is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.
5. A high unemployment rate is generally considered a positive economic indicator.
True
False
6. The Consumer Price Index (CPI) is a leading indicator of economic activity.
True
False
7. Briefly explain the difference between a leading and a lagging economic indicator, providing one example for each.
8. Describe how interest rates can act as an economic indicator and what a change in interest rates might signal about the economy.
Match each economic indicator with its primary definition.
9. Inflation Rate
a. The percentage of the labor force that is jobless
10. Unemployment Rate
b. The total market value of all final goods and services produced in a country in a given period
11. GDP
c. The rate at which the general level of prices for goods and services is rising