The curve in the figure at right will shift to the right when OA. population falls. B. the price level falls. C. labor productivity increases. O D. the proportion of the population that is elderly increases.
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- As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?Economists refer to the measure of GDP, after the effects of inflation have been removed, as Select one: O a. potential GDP. b. real GDP c. real per capita GDP.Economists find in a business cycle, a peak represents the end of, and a trough represents the end of Select one: a. an expansion; a recession O b. a depression; an expansion O c. a recession; an expansion O d. a trough; a peak
- In a strong, growing economy, what happens to the number of jobs and types of jobs? O The number of jobs grows and the types of jobs grow as well. O The number of jobs varies with the old types of jobs and the new types of jobs. O There are fewer workers in each type of job as machines replace them, though there is no change in the types of jobs. The average trend is that there is an increase in the number of jobs but some types of jobs cease to exist while other, new types of jobs replace them. Which of the following is the best example of frictional unemployment? * John, a coal miner, was laid off because of a lack of demand for workers in his O industry. He is looking into new opportunities in computer programming, but they require him to gain some new skills. Heather recently graduated with her doctorate in economics. She is searching for a job that matches her skills. Peter, a highly skilled construction worker, lost his job when the recession began. He is looking for work, but…If the value of the goods and services a country produces decreases while its population stays the same, which statement must be true? O A. The country's rate of inflation has increased. O B. The country's per capita GDP has decreased. C. The country's unemployment rate has decreased. OD. The country's total GDP has increased. O O OQuestion 7 Which of the following would be counted in this year's GDP? O a O b O C Od Question & What is the difference between real GDP and nominal GDP? O a O b Column A 1. 2. C d Question 9 Match each phase of the business cycle to its correct definition. 3. The bonus check a worker receives this year the value of a loan taken out this year The value of a savings bond sold by the federal government to investors this year The value of a television produced last year but sold this year 4 Real GDP allows for depreciation; nominal GDP allows for no depreciation. Real GDP includes nonmarket activities; nominal GDP has no nonmarket activities. Real GDP is based on constant prices; nominal GDP is based on the current year's prices. Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars. period of economic decline marked by falling real GDP a period of economic growth as measured by a rise in real GDP the height of an economic expansion, when real GDP…
- OC 7.5%. O D. 6.67%. O E. -3%. QUESTION 20 Suppose that a simple economy produces only the goods and services shown in the table. Assume all of the strawberries are used in the production of strawberry jam. Using the information in the table, nominal GDP for this simple economy equals Product Quantity Price Strawberries 250 $1.00 Strawberry jam 30 4.00 Second hand cars 10 950.00 Tablets 85 210.00 Shirts 60 18.00 O A. $19,300. O B. $19,050. OC. $28,800. O D. $28,550, O E. 435 units. Click Save and Submit to save and submít. Click Save All Answers to save all ansuwers.The GDP deflator is calculated using O A. Real GDP - Nominal GDP x 100 Real GOP Nominal ODP OB. Nominal GDP OC. Nominal GDP x 100 Real GDP O D. Constant Doilar GDP Current Dollar GDP X 100 Suppose for the year 2013 the economy of Uplandia has a nominal GDP of $5,200 billion and a real GDP of $4,160 billion. For 2013, this economy's GDP deflator is (Round your response to one decimal place ) Now suppose the GDP deflator in 2012 was 113.0. Uplandia's year-over-year inflation rate is percent. (Round your response to one decimal place) Click to select your answer(s).Suppose that GDP increases from $8 million to $10 million and output per worker rises from $4,000 to $5,000. In this economy there has been... Select one: O a. An increase in productivity and an increase in the number of employed persons O b. An increase in productivity and a decrease in the number of employed persons O c. An increase in productivity but no change in the number of employed persons O d. A decrease in production. More information is needed to determine the directional change in productivity and employment
- The process whereby national economies and business systems are becoming deeply interlinked with each other is called O a. Global Linking O b. Globalization O C. Free Trade O d. Technological AdvancementSuppose you read in the Wal Street Journal that, during the fourth quarter of 2020, the U.S. economy expanded at the fastest rate in two decades. It follows that one would expect in the unemployment rate and. in real GDP during the fourth quarter of 2020. O a. a decrease; a decrease O b. an'increase; an increase O c. a decrease; an increase O d. an increase; a decrease Next pageMacroeconomic indicators can be categorized as "leading" or "lagging". Which one in the list below is not a lagging indicator? Select one: O O a. The Consumer Price Index b. Labor market statistics c. Commodity prices d. Retail Sales
