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5 Written questions

5 Matching questions

  1. Seasonal Unemployment
  2. Final Good
  3. Value-added approach
  4. Frictional Unemployment
  5. Net Investment
  1. a Measuring GDP by summing the values added by all firms in the economy
  2. b Investment minus depreciation
  3. c A good sold to its final user
  4. d Joblessness related to changes in weather, tourist patterns, or other seasonal factors
  5. e Joblessness experienced by people who are between jobs or who are just entering or reentering the labor market

5 Multiple choice questions

  1. Any payment that is not compensation for supplying goods, services, or resources
  2. individuals who would like a job, but have given up searching for one
  3. The total value of all final goods and services produced for the marketplace during a given year, within the nations borders
  4. The level of output the economy could produce if operating at full employment
  5. Those people who have a job or who are looking for one

5 True/False questions

  1. Net Exports (NX)Total exports minus total imports


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


  3. Cyclical UnemploymentJoblessness related to changes in weather, tourist patterns, or other seasonal factors


  4. Factor PaymentsPayments to the owners of resources that are used in production


  5. Expenditure ApproachMeasuring GDP by adding the value of goods and services purchased by each type of final user


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