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5 Written Questions

5 Matching Questions

  1. Seasonal Adjustment
  2. Seasonal Unemployment
  3. Gross Domestic Product (GDP)
  4. Expenditure Approach
  5. Value-added approach
  1. a Measuring GDP by adding the value of goods and services purchased by each type of final user
  2. b Joblessness related to changes in weather, tourist patterns, or other seasonal factors
  3. c The total value of all final goods and services produced for the marketplace during a given year, within the nations borders
  4. d Adjusting an economic variable to remove the effects of changes predicted to occur at that time of year
  5. e Measuring GDP by summing the values added by all firms in the economy

5 Multiple Choice Questions

  1. The sum of a business plant, equipment, and software purchases, new-home construction, and inventory changes; often referred to as just investment
  2. individuals who would like a job, but have given up searching for one
  3. The revenue a firm receives minus the cost of intermediate goods it buys
  4. Joblessness arising from mismatches between workers skills and employers requirements or between workers locations and employers locations
  5. Goods and services that are produced by not sold in a market

5 True/False Questions

  1. Involuntary Part-time Workersindividuals who would like a job, but have given up searching for one


  2. Nominal VariableA variable measured without adjustment for the dollar's changing value


  3. Labor ForceThose people who have a job or who are looking for one


  4. Net Exports (NX)Investment minus depreciation


  5. Potential OutputThe level of output the economy could produce if operating at full employment


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