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5 Written questions

5 Matching questions

  1. Seasonal Adjustment
  2. Factor Payments approach
  3. Potential Output
  4. Gross Domestic Product (GDP)
  5. Consumption (C)
  1. a The part of GDP purchased by households as final users
  2. b The total value of all final goods and services produced for the marketplace during a given year, within the nations borders
  3. c The level of output the economy could produce if operating at full employment
  4. d Adjusting an economic variable to remove the effects of changes predicted to occur at that time of year
  5. e Measuring GDP by summing the factor payments earned by all households in the economy

5 Multiple choice questions

  1. A good sold to its final user
  2. Individuals who would like a full-time job, but who are working only part time
  3. Joblessness experienced by people who are between jobs or who are just entering or reentering the labor market
  4. Payments to the owners of resources that are used in production
  5. Total exports minus total imports

5 True/False questions

  1. Nonmarket ProductionA good sold to its final user


  2. Cyclical UnemploymentJoblessness arising from changes in production over the business cycle


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


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


  5. Intermediate GoodsGoods used up in producing final goods