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