Which of the following nations has experienced the highest average annual rate of growth of per capita real GDP since 1990? A) Germany B) United States C) India D) China ANSWER D
Date: September 2nd, 2020
The measurement system used by the U.S. government to estimate national income is A) the sum of financial transactions, transfer payments and secondhand goods. B) the sum of consumption plus investment expenditures. C) national income accounting. D) the GDP deflator. ANSWER C
Date: September 2nd, 2020
Suppose that Country A and Country B each had the same per capita real Gross Domestic Product (GDP) of $10,000 in 2008. Country A’s per capital real Gross Domestic Product (GDP) had a growth rate of 3 percent per year and Country B’s per capital real Gross Domestic Product (GDP) had a growth rate of […]
Date: September 2nd, 2020
An increase in the labor force participation rate A) means there are more discouraged workers. B) implies that the unemployment rate must fall. C) implies that the unemployment rate must rise. D) is consistent with either a rise or a fall in the unemployment rate. ANSWER D
Date: September 2nd, 2020
Profits are part of the A) factor services. B) monetary value of output. C) final consumer goods. D) total income. ANSWER D
Date: September 2nd, 2020
Per capita real GDP is a measure of A) productive activity. B) economic welfare. C) cost of living standards. D) cultural harmony. ANSWER A
Date: September 2nd, 2020
Discouraged workers A) are considered part of the unemployed because they are not working. B) are not considered part of the unemployed because they quit their jobs voluntarily. C) are not considered part of the unemployed because they are not actively seeking work. D) are considered part of the unemployed because they are still in […]
Date: September 2nd, 2020
The approach used in the U.S. to measure the economy’s aggregate performance is A) the total value of securities. B) national income accounting. C) to add up the value of intermediate goods. D) to add up the total value of financial transactions, transfer payments, and secondhand goods. E) all of the above. ANSWER B
Date: September 2nd, 2020
Economic growth is measured by A) increases in the population. B) increases in GDP. C) increases in per capita real GDP. D) increases in the value of the total output of society. ANSWER C
Date: September 2nd, 2020
The labor force participation rate is the A) proportion of the labor force that is unemployed. B) proportion of the noninstitutionalized adult population in the labor force. C) proportion of the labor force that is employed. D) proportion of the noninstitutionalized adult population that is employed. ANSWER B
Date: September 2nd, 2020
