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5 Written questions

5 Matching questions

  1. Net Investment
  2. Gross Domestic Product (GDP)
  3. Real Variable
  4. Intermediate Goods
  5. Government Purchases (G)
  1. a Spending by federal, state, and local governments on goods and services
  2. b Goods used up in producing final goods
  3. c A variable adjusted for changes in the dollar's value
  4. d The total value of all final goods and services produced for the marketplace during a given year, within the nations borders
  5. e Investment minus depreciation

5 Multiple choice questions

  1. Measuring GDP by summing the values added by all firms in the economy
  2. A variable measured without adjustment for the dollar's changing value
  3. Joblessness arising from mismatches between workers skills and employers requirements or between workers locations and employers locations
  4. The sum of a business plant, equipment, and software purchases, new-home construction, and inventory changes; often referred to as just investment
  5. Adjusting an economic variable to remove the effects of changes predicted to occur at that time of year

5 True/False questions

  1. Full EmploymentJoblessness arising from changes in production over the business cycle

          

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

          

  3. Involuntary Part-time WorkersIndividuals who would like a full-time job, but who are working only part time

          

  4. Seasonal UnemploymentJoblessness related to changes in weather, tourist patterns, or other seasonal factors

          

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

          

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