Reference no: EM1373770
1. Determine which is true of leakages and injections in the circular flow?
a. Leakages minus injections equal GDP.
b. Injections minus leakages equal GDP.
c. Leakages minus injections equal zero in equilibrium.
d. Domestic leakages must equal domestic injections.
2. The consumer price index measures changes in
a. the prices of all goods and services
b. the prices of goods that are sold
c. the total cost of a specific market basket of consumer goods
and services
d. the total costs of all goods and services
3. The unemployment rate is the
a. percentage of people in the economy who do not hold jobs
b. percentage of the labor force that does not have a job
c. number of people in the economy who have given up looking for
employment
d. number of people in the labor force without jobs
4. Which of the following people would be classified as unemployed?
a. a person who wants a job as a fashion model but cannot find
work in that field
b. someone who quits a part-time job to attend school full-time
c. someone who gives up looking for a job
d. a person who works at a job that underemploys his or her
skills
5. Frictional unemployment refers to unemployment that results from
a. a mismatch of skills
b. being in the wrong geographical location
c. taking the time to find the best job
d. seasonal decreases in demand for labor
6. If the aggregate demand curve shifts rightward,
a. the price level increases and output decreases
b. the resulting increase in the price level is usually called
cost-push inflation
c. the resulting increase in the price level is usually called
demand-pull inflation
d. the price level increases only if there is also a leftward
shift of the aggregate supply curve
7. The Consumer Price Index measures the cost of
a. all goods and services produced in the U.S. economy
b. all goods produced in the U.S. economy
c. a fixed market basket of consumer goods and services produced
in the U.S. economy
d. a fixed market basket of producer goods and services
|
Social diversity and business ethics
: Discuss on social diversity and business ethics and how has a more diversified labor force affected the corporate structure and economy?
|
|
Compute profit-maximizing output, price, and profit levels
: Compute profit-maximizing output, price, and profit levels and Use the Lagrangian multiplier method, compute profit maximizing output, price, and profit levels in light of a parts shortage that limits output
|
|
List the components of gdp in the output approach
: Discuss and explain the components of GDP in the output approach and in income approach, NDP, NI, PI, and DI.
|
|
Determination of the equilibrium wage
: In the context of a supply demand diagram of low skill labour market, a minimum wage above competitive equilibrium will decrease employment relative to competitive equilibrium.
|
|
Multiple choice questions related to economic statistics
: Determine which is true of leakages and injections in the circular flow, the consumer price index measures changes in
|
|
Ad and as analysis
: Suppose the economy is in a recession. Explain an adjustment process using AD and AS examine that will ensure that the economy will return to full employment
|
|
Short-run aggregate supply curve
: Describe why Aggregate Supply curve becomes increasingly steeply sloped at levels of RGDP near full employment and becomes especially steeply sloped beyond full employment RGDP
|
|
Forecast short run future changes in real gdp
: Explain why do economists attempting to forecast short run future changes in real GDP and employment look closely at information on business inventories and unfilled orders?
|
|
Rate of labor productivity growth in us economy
: During Dec. 2007 and Dec. 2008, measured RGDP in economy fell by 1 percent as the US economy sank into a recession. Over that same time period total employment in terms of hours worked declined by 3.7 percent
|