NAME: ________________________

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5 Written Questions

5 Matching Questions

  1. Factor Payments
  2. Structural Unemployment
  3. Frictional Unemployment
  4. Government Purchases (G)
  5. Nominal Variable
  1. a Spending by federal, state, and local governments on goods and services
  2. b Joblessness experienced by people who are between jobs or who are just entering or reentering the labor market
  3. c Joblessness arising from mismatches between workers skills and employers requirements or between workers locations and employers locations
  4. d A variable measured without adjustment for the dollar's changing value
  5. e Payments to the owners of resources that are used in production

5 Multiple Choice Questions

  1. A good sold to its final user
  2. Individuals who would like a full-time job, but who are working only part time
  3. Joblessness arising from changes in production over the business cycle
  4. Investment minus depreciation
  5. The fraction of the labor force that is without a job

5 True/False Questions

  1. Discouraged workersThose people who have a job or who are looking for one


  2. Consumption (C)The part of GDP purchased by households as final users


  3. Nonmarket ProductionInvestment minus depreciation


  4. Value AddedThe revenue a firm receives minus the cost of intermediate goods it buys


  5. Factor Payments approachPayments to the owners of resources that are used in production


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