The underground economy includes

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Reference no: EM131097122

Question 1

The underground economy includes:

self-employed workers.

babysitters paid in cash.

babysitters on a payroll.

landscapers.

Question 2

Which of the following countries has not experienced recent bouts of hyperinflation?

Norway

Brazil

Mexico

Bolivia

Question 3

Unanticipated inflation tends to damage _______ most.

borrowers

lenders

chocolate makers

weapons manufacturers

Question 4

If you install anti-lock braking on a vehicle, and that causes the price to increase $100, the BLS:

counts that increase as part of the inflation rate.

does not count that increase as part of the inflation rate.

reduces the price increase from the inflation rate by the value of the public good.

adds the price increase from the inflation rate by the value of the public good.

Question 5

In a BLS study, the average adult spends _______ per day on unpaid work.

1.5 hours

3.4 hours

0 hours

5 hours

Question 6

Volunteers in the workforce have what effect on the GDP?

None, they are not counted

Only hours actually volunteered are counted

Hours are counted at 50%

Hours are counted as intermediate inputs

Question 7

If a foreign car manufacturer builds a plant in the United States, the new plant will:

increase the GDP by the amount produced.

have no effect on the GDP, because it is a foreign company.

decrease the GDP by the amount produced, because of foreign ownership.

increase the GDP by the net exports of the company.

Question 8

Net exports are:

total exports divided by population.

total exports minus marginal product.

total exports minus imports.

total exports minus debt.

Question 9

Gross Domestic Product does NOT include:

personal consumption.

intermediate inputs.

residential investment.

net exports.

Question 10

Disinflation is:

an decrease in prices.

an decrease in inflation rates.

the inflation rate minus inflation increase.

the inflation rate plus inflation increase.

Question 11

Between 1997 and 2007, which of the following experienced a negative inflation rate?

Gasoline

College tuition

Medical care

Appliances

Question 12

The BEA is the:

Bureau of Educational Administration.

Bureau of Economic Alliances.

Bureau of Economic Analysis.

Bureau of Educational Analysis.

Question 13

The main statistical agencies in Washington are:

the FBI, CIA, BEA, and the NLRB.

the BEA, BLS, CB, and the FRB.

the NRA, AARP, NCAA, NAACP.

the USDA, FTC, FCC, and the FDA.

Question 14

What is deflation?

An increase in price levels that reduces the GDP

An decrease in price levels

Inflation minus average net price equals deflation

Inflation plus average net price equals deflation

Question 15

The Bureau of Labor Statistics is responsible for:

regulating accounting standards.

counting various employment statistics.

the U.S. census.

Reference no: EM131097122

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