3 - Unit 3 (FCHS - Fall 2024)

An effect of inflation

You graduated from COLLEGE and are currently looking for your 1st job. You are ___ unemployed.

Which phase of the business cycle would the economy experience its lowest rate of unemployment?

Which of the following would be counted in this year's GDP?

advance in producing capital goods shown by shift the production possibilities curve from AB to

Which component of GDP can be a negative number?

C + I + G + (X-M) - which letter represents the largest sector of the macroeconomy

When calculating GDP, the purchase of a new business office is counted as

Which order shows the major market structures from most competitive to least competitive:

Retail profits fell leading to the termination of a part-time cashier. Cashier is _ unemployed.

There are always workers who are in the process of changing jobs, so there is always some ____

If intermediate goods and services were included in GDP:

When Coca-Cola buys a shipment their secret ingredient it is considered to be

GDP expressed in constant—or unadjusted for inflation—prices could also be referred to as

A business fires 75% of their employees in '08 b/c of recession. Employees are ___ unemployed.

What's the effect of an increase in automobile worker wages on the market for automobiles?

Toll-booth cashier becomes unemployed when a machine does his job better. He is ___ unemployed.

Economists like to convert statistical series to real terms (i.e. real GDP) b/c the adjustment

Choose the correct letter on the graph that represents a recession.

To be counted in the civilian labor force, a person must be

Inflation that occurs because the price of essential raw materials or wages has incr. is called

During periods of unexpected inflation, people who previously borrowed:

Employment figures understate the extent of unemployment because they include

Index of avg level of prices for approx. 90,000 goods and services in the economy is the ___

Which line represents the flow of goods & services?

The market value of all final goods & services produced in a country in a given period of time.

A person who cleans their own house takes part in