Measuring Up

1. True or false: The "hemline index" holds that the hemlines on women's dresses rise and fall in conjunction with economic performance.

True
False

2. In what year did Charles Henry Dow begin publishing an industrial average that is now known as the Dow Jones Industrial Average?

1884
1913
1928

3. True or false: "Gross domestic product" and "gross national product" are synonymous.

True
False

4. How many measures of unemployment does the US Bureau of Labor Statistics use to examine labor underutilization?

One
Three
Six

5. True or false: Price pressures resulting from World War I were the impetus behind the creation of the Consumer Price Index.

True
False

6. When did the US government begin measuring the national unemployment rate?

1900
1920
1940

7. True or false: The Atlanta Fed's GDPNow produces its snapshots of gross domestic product (GDP) by using statistical model forecasts of the same subcomponents that make up GDP.

True
False

8. In what decade did the U.S. government begin considering gross domestic product (GDP) as an official measure of economic activity?

1920s
1930s
1940s

9. Which unofficial index of exchange rates uses fast food to measure the purchasing power of a variety of international currencies?

The Whopper index
The Big Mac index
The Chalupa index

10. The Dow Jones industrial average first hit 5,000 in 1995 and 20,000 in 2016. In what year did the index first reach 10,000?

1999
2001
2011

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Measuring Up