Macro Quiz Review

1

Goals of Macroeconomics

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What type of unemployment occurs when changes in the market condition push out workers from certain occupations?

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What is it called when a worker is unemployed due to their search for better job opportunities?

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What type of unemployment results from the business cycle and economic downturn?

1

If a ski instructor is unable to find work during the summer, they are experiencing what type of unemployment?

1

What is Gross Domestic Product (GDP)?

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What are the four main components of GDP?

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Which component of GDP would a new factory construction fall under?

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Why is it important to measure GDP?

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What is meant by the term 'labor force'?

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What is frictional unemployment?

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What groups are excluded from the labor force?

1

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

1

What category of GDP would a car manufactured in the U.S. fall under?

1

Which of the following is categorized as 'Government Spending' in GDP?

1

What is included in the 'Consumer Spending' category of GDP?

1

Goals of Macroeconomics

What type of unemployment occurs when changes in the market condition push out workers from certain occupations?

What is it called when a worker is unemployed due to their search for better job opportunities?

What type of unemployment results from the business cycle and economic downturn?

If a ski instructor is unable to find work during the summer, they are experiencing what type of unemployment?

What is Gross Domestic Product (GDP)?

What are the four main components of GDP?

Which component of GDP would a new factory construction fall under?

Why is it important to measure GDP?

What is meant by the term 'labor force'?

What is frictional unemployment?

What groups are excluded from the labor force?

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

What category of GDP would a car manufactured in the U.S. fall under?

Which of the following is categorized as 'Government Spending' in GDP?

What is included in the 'Consumer Spending' category of GDP?

Which of the following is not a component of GDP?