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What is the discount rate?
What is the discount rate?
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1989 2022
Nominal GDP $5.7 trillion $34.6 trillion
Real GDP $9.2 trillion $19.8 trillion
Why is there a significant difference between the nominal GDP and the real GDP in 2022?
Why do economists calculate GDP?
Ford is an American car company. Honda is a Japanese car company. Which of the following items would not be included in the American GDP for 2023?
What is the discount rate?
As anticipated, the ticket prices for the home finale for Coach K [legendary Duke coach] are through the roof. According to Front Office Sports, the game between [Duke] and [their biggest rival UNC] is trending towards being the highest-selling game between the teams in StubHub history.
The current minimum ticket price is $3,690. The average price on StubHub is $5,392. Given Coach K’s storied career, it is no surprise that fans are willing to pay top-dollar to witness history in his final home game coaching [Duke].
The same cup of coffee increased from 25 cents to $1.59 between 1970 and 2019. The type of people HURT most by the rise in prices are
Oil is refined and made into gasoline. If the price of oil increases from $47 per barrel to $50 per barrel, it is likely the price of gas will increase.
This is an example of
This cartoon shows that not all people who are not working are included in the unemployment rate. What has to be true for a person to be included in the unemployment rate?
The items included in the CPI (Consumer Price Index) changes over time because:
Which of the following would NOT be considered in the labor force?
A teacher loses his job in a school district. He is applying to available jobs in other districts. He is considered
A Blockbuster employee loses his job because people began streaming videos over the internet on Netflix. He is considered
During the Great Depression, thousands of factory workers lost their jobs because there was no demand for labor. Economists identified these people as:
When the auto industry shifted from human production to robot production of cars, many people became unemployed. Why can this type of unemployment be considered a sign of a good economy?
When a government spends more money than the revenue it receives, it is creating a
Which of these policies would not slow down the economy?
A fast growing economy can lead to
GDP = C + I + G + (X-M)
C = Consumer Spending
I = Investment
G = Government Spending
X-M = Net Exports (Exports minus Imports)
The proposal is the biggest budget in recent history, reflecting the massive government spending plans Biden rolled out this spring in his push to bolster the middle class and make the United States more competitive with China:
— his $1.5 trillion discretionary budget, which would increase funding for education, the IRS and the Centers for Disease Control and Prevention, among other things;
— the $2.3 trillion American Jobs Plan investing in infrastructure, currently under negotiation with Congress; and
— the $1.8 trillion American Families Plan, which includes spending on universal preschool and two years of free community college.
In 2019 and in 2022 the Unemployment Rate was BELOW the Natural (Noncyclical) Rate of unemployment, which means there was very high levels of employment.
When this situation occurs, what do economists expect to happen?
If you want to compare GDP from two different periods of time, what should you use?
In 2020, the discount rate dropped significantly. The discount rate is decreased because
Recent news indicates that the Fed wants to increase the discount rate. This indicates that
The average price for a home Duke basketball game is approximately $265. What type of inflation is demonstrated in the article?
If the ticket prices in this article went up because of cost - push inflation, a possible explanation could be:
Demand-pull inflation can be considered a positive sign because it indicates that
If Duke expanded the seating capacity of their home court, Cameron Indoor Stadium, from the current 9,314 to the same size of UNC’s Dean Smith Center which has a capacity of 21,750 what would you expect to happen to the average price of Duke basketball tickets?
The same cup of coffee increased from 25 cents to $1.59 between 1970 and 2019. The type of people HELPED most by the rise in prices are
What is not a possible reason why the price of coffee has increased during this time?
Some forms of unemployment are considered “positive” because they happen in a growing or changing economy. What are the “positive” types of unemployment?
Pick TWO
Bad type of unemployment happens during a depression when people who are ready, willing and able to work cannot find jobs because there are no jobs available. This type of unemployment is
Economists use the CPI to look at the change in the average price of a fixed set of goods so they can study
What has the greatest impact on the CPI?
What type of worker can benefit from becoming unemployed due to technological advancements?
Firms use robots instead of human labor to reduce the cost of making their product. What type of inflation would be reduced by this decision?
The accumulation of a nation’s budget deficits over time is their
What pair of decisions would increase the debt the fastest?
An example of Consumer spending is
An example of GOVERNMENT SPENDING is
An example of INVESTMENT is
An example of EXPORT is
This article shows that the Biden administration created a fiscal policy designed to speed up the economy by
If the Biden administration wishes to AVOID creating a budget deficit and increasing the national debt, in addition to the steps suggested above, the government would also have to
If the Biden administration was not worried about increasing the national debt and wanted to speed up the economy even more, in addition to the steps suggested above, the government would also have to
What types of unemployment are combined to determine the Natural Rate of Unemployment?
According to this graph, between 2008-2009 the unemployment rate was above the Non Cyclical (Natural) Rate of Unemployment. Meaning lots of people did not have jobs.
When this situation occurs, what do economists expect to happen?