Practice Exam II
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Last updated over 1 year ago
18 questions
1
The official unemployment rate may understate the true rate of unemployment because of
The official unemployment rate may understate the true rate of unemployment because of
1
Increases in the duration of unemployment may
Increases in the duration of unemployment may
1
If a person loses her job because her abilities and skills are a poor match with current requirements of employers, this person is considered
If a person loses her job because her abilities and skills are a poor match with current requirements of employers, this person is considered
1
Cyclical unemployment occurs when
Cyclical unemployment occurs when
1
The formula for computing a basic price index is
The formula for computing a basic price index is
1
The Consumer Price Index attempts to measure
The Consumer Price Index attempts to measure
1
During a recession
During a recession
1
To be officially unemployed a person must:
To be officially unemployed a person must:
1
Which of the following would most likely be sold in the product market?
Which of the following would most likely be sold in the product market?
1
Economist consider profit to be
Economist consider profit to be
1
The total market value of final goods and services produced in an economy during a one year period is
The total market value of final goods and services produced in an economy during a one year period is
1
One method of calculating GDP is to add together
One method of calculating GDP is to add together
1
When economists discuss the nominal value of an economic variable, the variable is
When economists discuss the nominal value of an economic variable, the variable is
1
Economics growth is usually defined as
Economics growth is usually defined as
1
When a nation's real per capita GDP increases, which of the following is true?
When a nation's real per capita GDP increases, which of the following is true?
1
Which of the following transaction is included in GDP?
Which of the following transaction is included in GDP?
1
Real GDP generally increases over the long term because
Real GDP generally increases over the long term because
1
Imagine that you have learned that nominal GDP increased by 5% last year over the previous year and that the economy produced exactly the same quantities of goods and services as the previous year. This tells you that:
Imagine that you have learned that nominal GDP increased by 5% last year over the previous year and that the economy produced exactly the same quantities of goods and services as the previous year. This tells you that: