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5 Written questions

5 Matching questions

  1. Involuntary Part-time Workers
  2. Value-added approach
  3. Nominal Variable
  4. Factor Payments
  5. Intermediate Goods
  1. a Goods used up in producing final goods
  2. b Measuring GDP by summing the values added by all firms in the economy
  3. c A variable measured without adjustment for the dollar's changing value
  4. d Individuals who would like a full-time job, but who are working only part time
  5. e Payments to the owners of resources that are used in production

5 Multiple choice questions

  1. Joblessness related to changes in weather, tourist patterns, or other seasonal factors
  2. The sum of a business plant, equipment, and software purchases, new-home construction, and inventory changes; often referred to as just investment
  3. The fraction of the labor force that is without a job
  4. The total value of all final goods and services produced for the marketplace during a given year, within the nations borders
  5. Goods and services that are produced by not sold in a market

5 True/False questions

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


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


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


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


  5. Consumption (C)Total exports minus total imports