Reference no: EM132813428
1. A increase in the price of plastic would result in
A. an increase in the supply if plastic
B. a decrease in the supply of plastic.
C. an increase in quantity supplied of. plastic
D. a decrease in quantity supplied of plastic
E. an increase in the supply of plastic milk cartons.
2. If real GDP was $900 billion and the CPI was 150, then nominal GDP was approximately
A. 1350
B. 600
C. 60
D. 6
E. 1.67
3. If nominal GDP was $1,500 billion in 2005 and the GDP deflator was 150, then real GDP would have been approximately
A. 10 billion
B. 1,000 billion
C. 1,350 billion
D. 2,250 billion
E. 3,000 billion
4. The unemployment rate published by the government is the percentage of the
A. population that is not working
B. population that is collecting unemployment
C. population that is unemployed
D. labor force with part-time jobs
E. labor force that is unemployed
5. The unemployment rate in the United States underestimates true unemployment because
A. the underground economy is not included in the figures
B. part time workers are not included in the figures
C. only workers who are structurally unemployed are included in the figures
D. discouraged workers are not included in the figures
E. only workers who are frictional and structurally unemployment are included in the figures
6. When inflation is increasing in the economy, what phase of the business cycle is active?
A. Trough
B. Expansion
C. Contraction
D. Peek
E. Slump
7.
-Describe two ways of calculating gross domestic product.
-Some items are not counted in GDP for various reasons. Identity three categories that are not counted and explain why they are excluded.
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What is the unit product cost using absorption costing
: Total fixed selling and administrative costs, $8,120. There are no beginning inventories. What is the unit product cost using absorption costing
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What is the contribution to gdp of the production
: What is the contribution to GDP of the production and sale of the sweater?
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Determine the amounts to be reported for cost of goods sold
: Wildhorse Co. has beginning inventory of $56,200, ending inventory of $91,200, and net sales of $651,700. Determine the amounts to be reported for cost of goods
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Define and develop a project plan
: Define and Develop a Project Plan - Determine the relationship of the project to other projects, systems, business operations, strategic aims of organisation
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Describe two ways of calculating gross domestic product
: Describe two ways of calculating gross domestic product. Some items are not counted in GDP for various reasons. Identity three categories that are not counted
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Identify and manage risks in a project
: Explain the process you would use to identify and manage risks in a project - Outline the organisation's procedures and processes that are relevant to managing
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Make the income statement for the past three years
: The expectation is that it would be difficult for the 40 employees to find other employment. Make the Income Statement for the past three years
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Inflation and unemployment by using the philips curve
: 1. Explain relationships between inflation and unemployment by using the Philips curve.
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What is arbolet contribution to gdp
: Consider a new computer tech company, Arbolet Computing, that does the following each year:
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