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5 Written questions

5 Matching questions

  1. Labor Force
  2. Final Good
  3. Value Added
  4. Seasonal Adjustment
  5. Involuntary Part-time Workers
  1. a Adjusting an economic variable to remove the effects of changes predicted to occur at that time of year
  2. b Individuals who would like a full-time job, but who are working only part time
  3. c Those people who have a job or who are looking for one
  4. d The revenue a firm receives minus the cost of intermediate goods it buys
  5. e A good sold to its final user

5 Multiple choice questions

  1. Goods used up in producing final goods
  2. A variable measured without adjustment for the dollar's changing value
  3. Total exports minus total imports
  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. Nonmarket ProductionInvestment minus depreciation


  2. Value-added approachThe revenue a firm receives minus the cost of intermediate goods it buys


  3. Government Purchases (G)Spending by federal, state, and local governments on goods and services


  4. Structural UnemploymentJoblessness arising from mismatches between workers skills and employers requirements or between workers locations and employers locations


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