Answer the following question...

the creation of labor-intensive industries

Aggregate demand differs from regular demand in that aggregate demand

measures demand for entire economy, rather than one market.

The BEST example of structural unemployment in an economy is someone

whose job skills do not match the economy’s needs

Which of these is MOST likely to lead to inflation?

an increase in the costs of production

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Economics - GDP, CPI, Unemployment practice

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Unit 3 midway review

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Questions 10

Answers

1
Answer the following question...
future economic growth
the creation of labor-intensive industries
future increases in labor productivity
the creation of advanced capital goods
2
When aggregate demand exceeds aggregate supply in an economy, the MOST immediate result is
unemployment
deflation
low GDP
inflation
3
Aggregate demand differs from regular demand in that aggregate demand
none of the above
includes supply as well as demand.
is only used when trying to measure actions by the Fed
measures demand for entire economy, rather than one market.
4
When calculating GDP, the purchase of a new factory is counted as
net exports
government spending
consumption
investment
5
Answer the following question...
structural unemployment
cyclical unemployment
frictional unemployment
seasonal unemployment
6
Answer the following question...
prices have increased
the production possibilities curve has shifted
GDP is improving
unemployment has decreased
7
Answer the following question...
seasonal
structural
frictional
cyclical
8
The BEST example of structural unemployment in an economy is someone
out of work due to a change in the business cycle
out of work due to a seasonal downturnin business
whose job skills do not match the economy’s needs
between jobs or entering the work force
9
Which of these is MOST likely to lead to inflation?
an increase in the aggregate supply ofgoods and services
the application of price ceilings
reduced prices for goods and services
an increase in the costs of production
10
Answer the following question...
consumer price index
aggregate supply
unemployment rate
gross domestic product

Economics - GDP, CPI, Unemployment practice Flashcards | StudBud