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5 Written questions

5 Matching questions

  1. Value-added approach
  2. Structural Unemployment
  3. Intermediate Goods
  4. Real Variable
  5. Cyclical Unemployment
  1. a Joblessness arising from changes in production over the business cycle
  2. b Goods used up in producing final goods
  3. c Measuring GDP by summing the values added by all firms in the economy
  4. d Joblessness arising from mismatches between workers skills and employers requirements or between workers locations and employers locations
  5. e A variable adjusted for changes in the dollar's value

5 Multiple choice questions

  1. Measuring GDP by adding the value of goods and services purchased by each type of final user
  2. Joblessness experienced by people who are between jobs or who are just entering or reentering the labor market
  3. The part of GDP purchased by households as final users
  4. A situation in which there is no cyclical unemployment
  5. Any payment that is not compensation for supplying goods, services, or resources

5 True/False questions

  1. Potential OutputA good sold to its final user


  2. Nonmarket ProductionGoods and services that are produced by not sold in a market


  3. Final GoodThe revenue a firm receives minus the cost of intermediate goods it buys


  4. Unemployment RateThe fraction of the labor force that is without a job


  5. Discouraged workersindividuals who would like a job, but have given up searching for one


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