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78. The official unemployment rate may not reflect the true state of unemployment because:
e.) a) and b) only.Part-time employees who want to work more hours are treated the same statistically as those who hole full-time jobs. Some individual who want to work may become discouraged and cease actively looking for work.
79. After looking for a job for more than eight months, Kyle has become frustrated and stopped looking. Economists view Kyle as:
d.) cyclically unemployed
80. The most severe unemployment experienced by the United States was experienced during the Great Depression, which occurred during the period lasting from:
82. Structural unemployment includes:
b) unemployment caused by automation that displaces workers from their jobs.
85. Demand and supply may not balance in the labor market if:
d.) any of the above. Firms pay efficiency wages, the government imposes a minimum wage, unions successfully negotiate increased wages for their members.
87. The difference between the nominal interest rate and the rate of inflation is:
b.) the real interest rate
88. A business cycle reflects change in economic activity, particularly real GDP. The stages of a business cycle in order are:
a.) expansion, peak, contraction, trough
90. Economists use the term "business cycle" to refer to:
c.) fluctuations in the economic activity, measured by GDP or unemployment.
91. GDP is a measure of the:
c.) market value of all final goods and services produced during a given period.
92. Final goods and services used to compute GDP refer to:
c.) goods and services purchased by the ultimate users.
93. Which of the following is an example of an intermediate good?
b.) cloth sold to a suit manufacturer
96. When your mother buys a pound of Swiss chocolate, it is accounted for in which expenditure category of GDP?
d.) net export
99. Personal income:
a.) is a measure of the income earned by owners of resources used in making final goods and services.
100. If the price index in the first year was 90, in the second year was 100, and in the third year was 95:
b.) the economy experienced 10 percent inflation between the first and second years and 5 percent deflation between the second and third years.
104. Which of the following is false?
d.) All goods and services exchanged in the current period are included in this year GDP.
106. A business entity that is owned by stockholders who face only limited liability is called a:
109. A stockholder who purchases 10 shares of priceline.com stock at $100 per share only to see the company shortly thereafter file for bankruptcy:
a.) can lose only the value of the initial investment, or $1,000.
111. The random walk theory suggests:
b.) that it is extremely difficult without inside information to consistently pick winners in the stock market.
114. Investment is affected by all but which of the following factors?
e.) all of the above are factors which influence investment
118. The present value of future income is calculated using which of the following formulas?
b.) PV = $X/(1 + r)i
If export is $100, import is $150, consumption is $100 and investment is $100, govt expenditure is $100 its GDP is
A country has a population of 125 million, labor force of 75 million, employed workers of 50 million, unemployed workers of 25 million, its unemployemnt rate is
A country has: Y (GDP) = $10,000
consumptions (C) =6,000
Taxes (T)= 1,500
GOVT EXP (G) = $1,700
Its investment function is = 3,300-100r, where is r is interest rate ITS INTEREST RATE IS:
BOTH A & B 3,300-100r=y-c-g;
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