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Macroeconomics Indicators Review Flashcards | StudBud
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Macroeconomics Indicators Review
Macroeconomics Indicators Review
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1
Which of the following would be helped by inflation?
lenders, like banks
those who have large amounts of money in savings accounts
an elderly person on a fixed income
a person receiving social security benefits
2
In May, Tina is laid off along with a very large # of other people across the country, Tina is
seasonally unemployed.
fictionally unemployed.
cyclically unemployed.
structurally unemployed.
3
Full employment occurs when their is no cyclical unemployment or roughly at the rate of
0 - 3% unemployment
10+% unemployment.
4 - 6% unemployment.
7 - 10% unemployment.
4
Which of these would you expect to see at or near a peak in the business cycle?
decreasing GDP
low stock prices
low unemployement
decreased spending by consumers
5
Consumers buy more durable goods because they feel good about the future, this affects GDP by
increasing investments.
decreasing exports.
increasing government spending.
increasing consumption.
6
Which of the following would be included in GDP?
intermediate goods
final goods
neither
both
7
A collection of representative goods used to measure inflation (CPI) is known as
the market basket.
aggregate supply.
a COLA.
the census.
8
Little Johnny cuts his neighbors grass for $10 . . .
not measured in GDP = intermediate good.
measured in GDP = Consumption.
not measured in GDP = non-market activity.
not measured in GDP = underground economy.
9
A prolonged economic contraction is known as . . .
a recovery period.
a boom period.
the 1970s.
a recession.
10
An example of a durable good would be
a pair of running shoes.
a light bulb.
a sandwich.
a microwave.
11
Harold and Kumar go to White Castle . . .
not measured as U.S. GDP = second hand sale.
measured as U.S. GDP = Consumption.
measured as U.S. GDP = Investment.
not measured as U.S. GDP = underground economy.
12
Someone who has a job that is below their education and skill set is known as
a discouraged worker.
a teacher.
underemployed.
cyclically employed.
13
Apple sells $300 million in iPads made in China to China, this would be
measured as U.S. GDP, as a measure of Net Exports.
measured as U.S. GDP, as a measure of Investment.
measured as U.S. GDP, as a measure of Consumption.
would not be measured as U.S. GDP, not in the U.S.
14
How has the distribution of income in the U.S. changed over the last 20 years?
it hasn't changed
it has become less equal
we live in a socialist nation now, thanks Obama!
it has become more equal
15
Johnathan sells his used Samsung smartwatch on Craigslist, this would
not be measured because it is a second hand sale.
not be measured because it's a non-market activity.
not be measure because it's an intermediate good.
be a measured as Consumption.
16
An international crisis causes consumers to save their money & postpone big purchases, causing
nothing, there will be no change.
aggregate demand to increase and price levels to decrease.
aggregate demand to decrease, lower GDP, & lower prices.
aggregate supply to decrease, lower GDP, & higher prices.
17
Those who are unemployed due to "search unemployment" are suffering from
seasonal unemployed.
cyclical unemployed.
frictional unemployed.
structural unemployed.
18
A general increase in prices is known as . . .
inflation.
deflation.
depreciation.
stagflation.
19
Jordan works for H & R block only from January till April, the rest of the year he is
seasonally unemployed.
structurally unemployed.
cyclically unemployed.
underemployed.
20
Businesses take out loans to construct new factories, this affects GDP by increasing . . .
net imports.
investment.
government spending.
consumption.
21
An income that is below which is sufficient to support a family or household is known as
hyperinflation.
stagflation.
a trough in the business cycle.
the poverty threshold.
22
Which of the following is the most accurate measure of economic success?
nominal inflation
nominal GDP
real inflation
real GDP
