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Review GDP/Inflation/Unemployment Flashcards | StudBud
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Review GDP/Inflation/Unemployment
Review GDP/Inflation/Unemployment
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AP Macro Unit 2 Review Game. #economicperformanceindicators
Flashcards
23 cards
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Questions
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Answers
1
A literary editor leaves their job in NY for a new potential job in San Fran.
Frictional.
Not unemployed.
Cyclical.
Structural.
2
Helped or Hurt by Unanticipated Inflation:A retired gov't worker with a COLA adjusted pension.
Hurt.
Uncertain.
Helped.
3
We measure inflation with...
Exports-Imports
CPI
C+I+G+Xn
Employed/Labor Fore
4
Advances in technology makes an assembly line worker's job obsolete.
Frictional.
Not unemployed.
Cyclical.
Structural.
5
A computer programmer laid off due to a recession.
Cyclical.
Not unemployed.
Structural.
Frictional.
6
The largest component of GDP is:
Net exports.
Investment spending.
Government spending.
Consumption spending.
7
Labor Force in Ramland is 50 Million, 4 million are unemployed. What's the unemployment rate?
8%
4%
6%
10%
8
Helped or Hurt by Unanticipated Inflation:Your savings from summer work in a savings account.
Uncertain.
Helped.
Hurt.
9
All of the following are included in GDP except:
SAT Test Prep tutoring
Radios for new cars made in the USA
Bombs for military planes
New desks for GCHS students
10
Which of the following goods/services would be included in our calculation of GDP?
A family pays $100,000 for a house built 3 years ago.
You buy a new Toyota that was made in Japan.
Chevrolet's purchase of tires to put on future cars.
The gov't purchases 500 new submarines for the Navy.
11
Which of the following goods/services would be included in our calculation of GDP?
IBM's purchase of a new factory for computer production.
Income received from selling Google stock.
A plumber's purchase of a used truck.
A barber cutting his own hair.
12
The price index in a country is 100 in 2000 and 120 in 2015. Inflation is...
110%
120%
10%
20%
13
GDP is made up of all of the following except
Net Exports
Consumption
Investment
Interest
14
The best indicator about the health of the standard of living in a country is...
Inflation
Real GDP
Unemployment
Real GDP per capita
15
Helped or Hurt by Unanticipated Inflation:A farmer obtains a fixed-interest loan for machinery.
Uncertain.
Helped.
Hurt.
16
The most serious or long-term type of unemployment is
Cylical
Seasonal
Frictional
Structural
17
An individual laid off during a recession has been searching for work but has presently stopped
Frictional.
Not unemployed.
Structural.
Cyclical.
18
Which of the following is the best measure of the production of a society?
Nominal GDP.
Real GDP.
Unemployment rate.
CPI.
19
Helped or Hurt by Unanticipated Inflation: Banks extending many fixed-rate loans?
Helped.
Hurt.
Uncertain.
20
CPI in 2005 is 150, CPI in 2006 is 200. The inflation rate is...
30%
25%
23%
33%
21
Helped or Hurt by Unanticipated Inflation:You buy a new home with an adjustable-rate mortgage.
Helped.
Hurt.
Uncertain.
22
Helped or Hurt by Unanticipated Inflation:A widow living entirely on Social Security payments.
Helped.
Uncertain.
Hurt.
23
Which of the following would be an example of an intermediate good/service?
Steel for the frame of a 200 story skyscraper.
Calculator purchased by a college freshman for Calc 101.
A house purchased by a family of four.
Tuition paid by a student at a state university.
