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5 Written questions

5 Matching questions

  1. Full Employment
  2. Net Investment
  3. Involuntary Part-time Workers
  4. Potential Output
  5. Seasonal Adjustment
  1. a Investment minus depreciation
  2. b Individuals who would like a full-time job, but who are working only part time
  3. c The level of output the economy could produce if operating at full employment
  4. d Adjusting an economic variable to remove the effects of changes predicted to occur at that time of year
  5. e A situation in which there is no cyclical unemployment

5 Multiple choice questions

  1. The revenue a firm receives minus the cost of intermediate goods it buys
  2. The total value of all final goods and services produced for the marketplace during a given year, within the nations borders
  3. Spending by federal, state, and local governments on goods and services
  4. The fraction of the labor force that is without a job
  5. individuals who would like a job, but have given up searching for one

5 True/False questions

  1. Nonmarket ProductionA good sold to its final user


  2. Labor ForceA good sold to its final user


  3. Transfer paymentPayments to the owners of resources that are used in production


  4. Frictional UnemploymentJoblessness experienced by people who are between jobs or who are just entering or reentering the labor market


  5. Cyclical UnemploymentJoblessness arising from changes in production over the business cycle


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