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5 Written questions

5 Matching questions

  1. Government Purchases (G)
  2. Nonmarket Production
  3. Seasonal Unemployment
  4. Factor Payments approach
  5. Consumption (C)
  1. a The part of GDP purchased by households as final users
  2. b Goods and services that are produced by not sold in a market
  3. c Joblessness related to changes in weather, tourist patterns, or other seasonal factors
  4. d Measuring GDP by summing the factor payments earned by all households in the economy
  5. e Spending by federal, state, and local governments on goods and services

5 Multiple choice questions

  1. The total value of all final goods and services produced for the marketplace during a given year, within the nations borders
  2. Measuring GDP by adding the value of goods and services purchased by each type of final user
  3. Measuring GDP by summing the values added by all firms in the economy
  4. Total exports minus total imports
  5. The level of output the economy could produce if operating at full employment

5 True/False questions

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

          

  2. Final GoodThose people who have a job or who are looking for one

          

  3. Seasonal AdjustmentAdjusting an economic variable to remove the effects of changes predicted to occur at that time of year

          

  4. Real VariableA variable adjusted for changes in the dollar's value

          

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