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5 Written questions

5 Matching questions

  1. Discouraged workers
  2. Potential Output
  3. Value-added approach
  4. Nonmarket Production
  5. Real Variable
  1. a individuals who would like a job, but have given up searching for one
  2. b Measuring GDP by summing the values added by all firms in the economy
  3. c Goods and services that are produced by not sold in a market
  4. d A variable adjusted for changes in the dollar's value
  5. e The level of output the economy could produce if operating at full employment

5 Multiple choice questions

  1. Payments to the owners of resources that are used in production
  2. Joblessness related to changes in weather, tourist patterns, or other seasonal factors
  3. A variable measured without adjustment for the dollar's changing value
  4. The sum of a business plant, equipment, and software purchases, new-home construction, and inventory changes; often referred to as just investment
  5. Total exports minus total imports

5 True/False questions

  1. Gross Domestic Product (GDP)Goods and services that are produced by not sold in a market

          

  2. Net InvestmentInvestment minus depreciation

          

  3. Full EmploymentA situation in which there is no cyclical unemployment

          

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

          

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