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Exam 2 Chapters 8, 9, 10

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Macroeconomics

Frage 1 von 103

1

If real GDP in a small country in 2005 is $8 billion and the real GDP in the same country in 2006 is $8.3 billion, the growth rate of real GDP between 2005 and 2006

Wähle eine der folgenden:

  • is 3.75%

  • is 3.6%

  • is 3.0%

  • cannot be determined from the information given.

Erklärung

Frage 2 von 103

1

According to the "Rule of 70", how many years will it take for real GDP per capita to double when the growth rate of real GDP per capita is 5%?

Wähle eine der folgenden:

  • less than 1 year

  • 14 years

  • 5 years

  • 35 years

Erklärung

Frage 3 von 103

1

The quantity of goods and services that can be produced by one worker or by one hour of work is

Wähle eine der folgenden:

  • labor productivity

  • technology

  • real GDP

  • human capital

Erklärung

Frage 4 von 103

1

What two factors are the keys to determining labor productivity?

Wähle eine der folgenden:

  • technology and the quantity of capital per hour worked

  • the growth rate of real GDP and interest rate

  • the average level of education of the workforce and the price level

  • the business cycle and the growth rate of real GDP

Erklärung

Frage 5 von 103

1

Human capital refers to which of the following?

Wähle eine der folgenden:

  • manufactured goods that are used to produce other goods and services

  • the accumulated knowledge and skills workers acquire from education and training or from their life experiences

  • the quality of good and services that can be produced by one worker or by one hour of work

  • physical that is made by human laborers, not machines

Erklärung

Frage 6 von 103

1

On difference between stocks and bonds is that

Wähle eine der folgenden:

  • stocks represent ownership in companies, while bonds represent ownership in banks.

  • stocks usually issued in electronic form, while bonds are usually issued in paper form.

  • stocks so not involve a promise to repay the purchaser of the stock, while bonds represent a promise to repay the purchase price of the bond.

  • stocks are financial securities, while bonds are labor market securities.

Erklärung

Frage 7 von 103

1

In addition to matching households that have excess funds with firms that want to borrow funds, what three key services does the financial system provide for savers and borrowers?

Wähle eine der folgenden:

  • risk-sharing, liquidity, and information

  • information, profit, and interest

  • high risk, high profit, and low savings

  • bonds, stocks, and mutual funds

Erklärung

Frage 8 von 103

1

In a closed economy, which of the following components of GDP is NOT included?

Wähle eine der folgenden:

  • consumption

  • government spending

  • net exports

  • investment

Erklärung

Frage 9 von 103

1

In a closed economy, which of the following equations reflects investment? (Y=GDP, C= Consumption, G=Government purchases, T=Taxes, and TR=Transfers)

Wähle eine der folgenden:

  • Y - C - G

  • C + G - T

  • Y - T + TR

  • Y - C - T

Erklärung

Frage 10 von 103

1

Under which of the following circumstances would the government be running a deficit?

Wähle eine der folgenden:

  • G= $7 trillion
    T= $10 trillion
    TR= $3 trillion

  • G= $7 trillion
    T= $7 trillion
    TR= $0

  • G= $5 trillion
    T= $7 trillion
    TR= $1 trillion

  • G= $5 trillion
    T= $5 trillion
    TR= $1 trillion

Erklärung

Frage 11 von 103

1

Inflation tends to________during the expansion phase of the business cycle and________during a recession phase of the business cycle.

Wähle eine der folgenden:

  • increase; increase further

  • increase; decrease

  • decrease; decrease further

  • decrease; increase

Erklärung

Frage 12 von 103

1

Consider the following data for a simple economy:

Total Population 20,000
Working-Age Population 15,000
Employment 1,000
Unemployment 100

Wähle eine der folgenden:

  • (100/1,000) X 100

  • (100/20,000) X 100

  • (100/15,000) X 100

  • (100/1,100) X 100

Erklärung

Frage 13 von 103

1

Total Population 20,000
Working-Age Population 15,000
Employment 1,000
Unemployment 100
Refer to the table above. The unemployment rate for this simple economy equals

Wähle eine der folgenden:

  • (1,100/20,000) X 100

  • (1,000/15,000) X 100

  • (1,000/1,100) X 100

  • (1,100/15,000) X 100

Erklärung

Frage 14 von 103

1

Cyclical employment is the result of

Wähle eine der folgenden:

  • a slowdown in the economy

  • the ups and downs in inflation

  • the search process of matching workers with jobs

  • frictional unemployment equals zero

Erklärung

Frage 15 von 103

1

Economist consider full employment to occur when

Wähle eine der folgenden:

  • everyone who wants a job has a job

  • all existing unemployment is either frictional unemployment or structural unemployment

  • frictional unemployment and structural unemployment equals zero

  • frictional unemployment equals zero

Erklärung

Frage 16 von 103

1

Which of the following would be the best measure of the cost of living?

Wähle eine der folgenden:

  • real GDP per person

  • GDP deflator

  • real GDP

  • Consumer Price Index

Erklärung

Frage 17 von 103

1

The consumer price index is the

Wähle eine der folgenden:

  • ratio of the dollar amount necessary to buy the market basket of goods in that year divided by the dollar amount necessary to buy of goods in the base year.

  • ratio of the dollar amount necessary to buy a basket of goods typically consumed in the current period divided by the dollar amount necessary to buy the market basket of goods in the base year.

  • cost of a basket of goods typically consumed in the current period.

  • the cost of a basket of goods typically consumed in the base year.

Erklärung

Frage 18 von 103

1

Consider the following values of the consumer price index for 2002 and 2003.

Year CPI
2002 180
2003 184

The inflation rate for 2003 equals

Wähle eine der folgenden:

  • 184 percent

  • 2.2 percent

  • 4.0 percent

  • 18.4 percent

Erklärung

Frage 19 von 103

1

The real interest rate equals the nominal interest rate_______the inflation rate.

Wähle eine der folgenden:

  • times

  • divided by

  • minus

  • plus

Erklärung

Frage 20 von 103

1

Suppose you borrow $1,000 at an interest rate of 12 percent. If the expected real interest rate is 5 percent, then the rate of inflation over the upcoming year that would be most beneficial to you would be a rate inflation.

Wähle eine der folgenden:

  • less than 7 percent

  • greater than 7 percent

  • equal to 7 percent

  • equal to 0 percent

Erklärung

Frage 21 von 103

1

Assume the market basket for the consumer price index has two products--meant and potatoes--with the following values in 2000 and 2006 for price and quality:

Base Year

Product Quality Price (2000) Product Quality Price (2006)
Meat 100 $10 Meat 120 $12
Potatoes 200 $2 Potatoes 180 $3

The Consumer Price Index for 2006 equals

Wähle eine der folgenden:

  • 125

  • 141

  • 129

  • 135

Erklärung

Frage 22 von 103

1

Full employment is not considered to be zero unemployment, because

Wähle eine der folgenden:

  • of cyclical unemployment

  • some people do not want a job

  • even though there are enough jobs, the search process of matching workers with jobs and the mismatch between skills and job requirements prevent individuals from immediately finding jobs.

  • there are not enough jobs for everyone who wants one.

Erklärung

Frage 23 von 103

1

Gross domestic product in the economy is measured by the

Wähle eine der folgenden:

  • total number of goods and services produced in the economy

  • total number of services produced in the economy

  • dollar value of all final goods and services produced in the economy

  • total number of goods produced int eh economy

Erklärung

Frage 24 von 103

1

How are intermediate goods treated in the calculation of GDP?

Wähle eine der folgenden:

  • Their value is not counted separately, but included as part of the value of the final good for.

  • Their value is counted separately, and their value is also included as part of the value of the final good for which they are an input.

  • They are included only if they are imported.

  • Their value is counted separately, but not included as part of the value of the final good for which they are an input.

Erklärung

Frage 25 von 103

1

Investment spending includes spending on

Wähle eine der folgenden:

  • transfer payments

  • food

  • changes in business inventories

  • stocks

Erklärung

Frage 26 von 103

1

In a small economy, gross investment in 2009 is $1,500, consumption spending is $6,000, net investment is $200, government spending is $1,500, exports are $2,000 and imports are $1,000. What is the GDP for the economy in 2009?

Wähle eine der folgenden:

  • $10,700

  • $10,300

  • $10,200

  • $10,000

Erklärung

Frage 27 von 103

1

GDP is not a perfect measure of well-being because

Wähle eine der folgenden:

  • GDP is not adjusted for pollution.

  • GDP is adjusted for increases in drug addiction .

  • GDP is adjusted for changes in crime rates.

  • the value of leisure is included in GDP.

Erklärung

Frage 28 von 103

1

The underground economy can be described as

Wähle eine der folgenden:

  • production of infrastructure that spurs growth in the rest of the economy.

  • production of intermediate goods and services.

  • economic production that includes mining.

  • economic activity that is hidden from the government to avoid taxed or because the activity is illegal.

Erklärung

Frage 29 von 103

1

The measure of production that values production using current prices is called

Wähle eine der folgenden:

  • underground GDP

  • real GDP

  • nominal GDP

  • value-added GDP

Erklärung

Frage 30 von 103

1

Given the information, what can we say has happened in the economy from 2008 and 2009?

2008 2009
Nominal GDP $10,000 $12,000
Real GDP $9,500 $10,500

Wähle eine der folgenden:

  • The price level has risen.

  • The price level has remained constant.

  • The price level has fallen.

  • Not enough information is available to determine what has happened to prices.

Erklärung

Frage 31 von 103

1

If real GDP increases we know for sure that

Wähle eine der folgenden:

  • prices have risen

  • output has risen

  • prices have remained constant

  • prices have risen but output has remained constant

Erklärung

Frage 32 von 103

1

If the GDP deflator rises from 185 to 190, what is the rate of inflation between the two years.

Wähle eine der folgenden:

  • 270%

  • 50%

  • 5%

  • 2.7%

Erklärung

Frage 33 von 103

1

Gross national product is defined as

Wähle eine der folgenden:

  • the value of final goods and services produced within the United States, by United States residents.

  • the value of final goods and services produced outside of the United States.

  • the value of final goods and services produced by residents of the United States even if the production takes place outside of the United States.

  • the value of final goods and services produced within the United States.

Erklärung

Frage 34 von 103

1

Disposable personal income is

Wähle eine der folgenden:

  • national income minus depreciation.

  • personal income minus indirect business taxes.

  • national income minus personal taxes.

  • personal income minus personal taxes.

Erklärung

Frage 35 von 103

1

National income is

Wähle eine der folgenden:

  • NNP minus income taxes.

  • GDP minus depreciation.

  • GNP plus depreciation.

  • GDP minus sales taxes.

Erklärung

Frage 36 von 103

1

What are the four major categories of expenditure?

Wähle eine der folgenden:

  • Labor, capital, natural resources, and entrepreneurship.

  • Final goods, intermediate goods, production, and income.

  • Wages, interest, rent, and profit.

  • Consumption, investment, government purchases, and net exports.

Erklärung

Frage 37 von 103

1

What is GDP an imperfect measurement of total production in the economy?

Wähle eine der folgenden:

  • GDP does not include household production or production form the underground economy.

  • The official measure of GDP does not include intermediate goods and services.

  • GDP measures total income paid to the factors of production, not production

  • The BEA does not include the value of new houses in GDP

Erklärung

Frage 38 von 103

1

What are the four categories of income?

Wähle eine der folgenden:

  • wages, salaries, interest, and dividends

  • consumption, investment, government purchases, and net exports

  • wages, interest, rent, and profit

  • labor , capital, natural resources, and entrepreneurship

Erklärung

Frage 39 von 103

1

Suppose the base year is 2001. Looking at GDP data from the United States from 2001 to the present, what would be true of the relationship between nominal GDP and real GDP?

Wähle eine der folgenden:

  • RGDP = NGDP because prices are stable.

  • RGDP < NGDP because prices are rising.

  • RGDP > NGDP because prices are falling.

  • The relationship is uncertain without more information on prices.

Erklärung

Frage 40 von 103

1

Real GDP per capita is often used as a measure of general well-being. While increases in real GDP often do lead to increases in the well-being of the population, why is real GDP not a perfect measure of well-being?

Wähle eine der folgenden:

  • The costs of pollution are not included.

  • The value of leisure is not included

  • GDP does not include crime rates or income distribution

  • All of the above

Erklärung

Frage 41 von 103

1

Personal income is

Wähle eine der folgenden:

  • national income minus retained corporate earnings plus government transfer payments and interest on government bonds.

  • national income minus income taxes.

  • equal to the value of all final goods and services produced within a country's borders during one year.

  • national income plus government transfer payments.

Erklärung

Frage 42 von 103

1

The largest component of gross domestic income is

Wähle eine der folgenden:

  • rent.

  • profits.

  • wages.

  • interests.

Erklärung

Frage 43 von 103

1

Coffee beans purchased by a coffee shop are a

Wähle eine der folgenden:

  • intermediate good.

  • neither.

  • final good.

Erklärung

Frage 44 von 103

1

Johnny is currently "in-between" jobs. What type of unemployment fits Johnny's status?

Wähle eine der folgenden:

  • Structurally unemployed

  • Seasonally unemployed

  • Cyclically unemployed

  • Fictionally unemployed

Erklärung

Frage 45 von 103

1

Which of the following makes changes in the CPI overstate the true inflation rate?

Wähle eine der folgenden:

  • Increase in quality bias

  • New product bias

  • Substitution bias

  • All of the above

Erklärung

Frage 46 von 103

1

Which of the following best describes a current trend in the labor force participation rate?

Wähle eine der folgenden:

  • It is increasing for men and decreasing for women.

  • It is decreasing for both men and women.

  • It is increasing for both men and women.

  • It is decreasing for men and increasing for women.

Erklärung

Frage 47 von 103

1

How does the U.S. economy create and destroy millions of jobs each year? (Mark all that apply.)

Wähle eine oder mehr der folgenden:

  • Some businesses are expanding, while others are contracting

  • In the market system, new firms are constantly entering and exiting various industries.

  • The federal government determines that certain industries are obsolete and closes firms.

  • When unemployment is high, the federal government hires more workers to offset the effects of unemployment.

Erklärung

Frage 48 von 103

1

IF a 3-month Treasury bill pays 5.5% and the change in the consumer price index (CPI) is 4.7%, what is the real interest rate (the true return to lending)?

Wähle eine der folgenden:

  • 4.7%

  • 10.2%

  • 5.5%

  • 0.8%

Erklärung

Frage 49 von 103

1

Your father earned $34,000 per year in 1984. To the nearest dollar, what is that equivalent to in 2008 if the CPI in 2008 is 215 and the CPI in 1984 is 104?

Wähle eine der folgenden:

  • $34,000

  • $70,288

  • $16,447

  • $73,100

Erklärung

Frage 50 von 103

1

Having happy workers increases business. This is an example of

Wähle eine der folgenden:

  • Structural unemployment

  • Union contracts

  • Market strategies

  • Efficiency wages

Erklärung

Frage 51 von 103

1

Even perfectly anticipated inflation imposes costs. Why?

Wähle eine der folgenden:

  • A)Some wages will fail to keep up with the anticipated inflation.

  • B)Menu costs

  • C)Paper money loses it purchasing power by the rate of inflation.

  • A and C only.

  • All of the above

Erklärung

Frage 52 von 103

1

Consider the following table:

Nominal Average
Year Hourly Earnings CPI
2008 $16 202
2009 $17 207
2010 $18 209

What is the real average hourly wage in 2009?

Wähle eine der folgenden:

  • $8.61

  • $7.92

  • $8.21

  • $17.42

Erklärung

Frage 53 von 103

1

Consider the following table:

Nominal Average
Year Hourly Earnings CPI
2008 $16 202
2009 $17 207
2010 $18 209

What can be said about real average hourly earnings and nominal average hourly earnings between 2008 and 2010?

Wähle eine der folgenden:

  • Real average hourly earnings decreased and nominal average hourly earnings increased.

  • Both real and nominal average hourly earnings decreased.

  • Real average hourly earnings increased and nominal average hourly earnings decreased.

  • Both real and nominal average hourly earnings increased.

Erklärung

Frage 54 von 103

1

Indicate whether the following statement is true or false and why. "A wage rising slower than the rate of inflation is actually falling."

Wähle eine der folgenden:

  • True. If wages are increasing slower that the average price of goods and services, purchasing power increases.

  • True. If wages are increasing slower that the average price of goods and services, purchasing power falls.

  • False. A higher wage decreases purchasing power regardless of inflation.

  • False. A higher wage increases purchasing power regardless of inflation.

Erklärung

Frage 55 von 103

1

Indicate whether the following statement is true or false and why. "A wage rising slower than the rate of inflation is actually falling."

Wähle eine der folgenden:

  • True. If wages are increasing slower that the average price of goods and services, purchasing power increases.

  • True. If wages are increasing slower that the average price of goods and services, purchasing power falls.

  • False. A higher wage decreases purchasing power regardless of inflation.

  • False. A higher wage increases purchasing power regardless of inflation.

Erklärung

Frage 56 von 103

1

Indicate whether the following statement is true or false and why. "A wage rising slower than the rate of inflation is actually falling."

Wähle eine der folgenden:

  • True. If wages are increasing slower that the average price of goods and services, purchasing power increases.

  • True. If wages are increasing slower that the average price of goods and services, purchasing power falls.

  • False. A higher wage decreases purchasing power regardless of inflation.

  • False. A higher wage increases purchasing power regardless of inflation.

Erklärung

Frage 57 von 103

1

When the economy is at full employment,

Wähle eine der folgenden:

  • all remaining unemployment is either frictional or structural.

  • the nature rate of unemployment prevails.

  • the unemployment rate is greater than zero.

  • All of the above.

Erklärung

Frage 58 von 103

1

Which of the following formulas does the Bureau of Labor Statistics use to calculate the unemployment rate?

Wähle eine der folgenden:

  • Number of unemployed
    ________________________ x 100
    Working-age population

  • Number of unemployed
    ________________________ x 100
    Number of employed

  • Number in labor force
    ________________________ x 100
    Number of unemployed

  • Number of unemployed
    ________________________ x 100
    Number in labor force

Erklärung

Frage 59 von 103

1

The true cost of borrowing and lending is best measured by

Wähle eine der folgenden:

  • the inflation rate.

  • the three-month U.S. Treasury bill rate.

  • the nominal interest rate.

  • the real interest rate.

Erklärung

Frage 60 von 103

1

Which of the following can give an early warning of future increases in the price level?

Wähle eine der folgenden:

  • Consumer price index

  • Producer price index

  • GDP deflator

  • All of the above

Erklärung

Frage 61 von 103

1

Which of the following can give an early warning of future increases in the price level

Wähle eine der folgenden:

  • Consumer price index

  • Producer price index

  • GDP deflator

  • All of the above

Erklärung

Frage 62 von 103

1

As of September 2011, which of the following demographics groups has the highest unemployment rate?

Wähle eine der folgenden:

  • Asians

  • African Americans

  • Hispanics

  • Whites

Erklärung

Frage 63 von 103

1

What effect do labor unions have on the unemployment rate?

Wähle eine der folgenden:

  • By increasing the wage above market equilibrium, labor unions considerably increase the unemployment rate.

  • By increasing the wage above market equilibrium, labor unions considerably decrease the unemployment rate.

  • Labor unions can significantly increase the unemployment rate when members go on strike.

  • Since few non-government workers are unionized, there is no significant effect on the unemployment rate.

Erklärung

Frage 64 von 103

1

What factors would cause the U.S. labor productivity to be nearly six times higher than Russian labor productivity?

Wähle eine der folgenden:

  • The size of the civilian labor force in larger in Russia, causing diminishing returns to set in.

  • The size of the civilian labor force is larger in the U.S.

  • The U.S. has more capital available per worker and higher levels of technology.

  • Russia overall has a smaller capital stock

Erklärung

Frage 65 von 103

1

During a recession, unemployment would be expected to

Wähle eine der folgenden:

  • increase

  • decrease

  • stay the same

Erklärung

Frage 66 von 103

1

during a recession, durable goods production, such as automobiles, would be expected to

Wähle eine der folgenden:

  • increase

  • decrease

  • stay the same

Erklärung

Frage 67 von 103

1

During a recession, the inflation rate would be expected to

Wähle eine der folgenden:

  • stay the same

  • decrease

  • increase

Erklärung

Frage 68 von 103

1

The most important factor in explaining increases in real GDP per capita in the long run is increase in productivity.

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 69 von 103

1

When tax revenue exceeds government spending (government purchases and transfer payment) there is a

Wähle eine der folgenden:

  • budget surplus

  • balanced budget

  • budget deficit

Erklärung

Frage 70 von 103

1

When tax revenue equals government spending there is a

Wähle eine der folgenden:

  • balanced budget

  • budget surplus

  • budget deficit

Erklärung

Frage 71 von 103

1

When tax revenue is less than government spending there is a

Wähle eine der folgenden:

  • budget deficit

  • a balanced budget

  • budget surplus

Erklärung

Frage 72 von 103

1

Which of the following expressions shows the investment-saving equality?

Wähle eine der folgenden:

  • S=Y+T-TR-G

  • S=Y+T-C-G

  • S=Y-C-G

  • S=Y+TR-C-T

Erklärung

Frage 73 von 103

1

Which of the following is not a loanable fund?

Wähle eine der folgenden:

  • Real estate

  • Bank certificates of deposit

  • Bonds

  • Mutual fund shares

Erklärung

Frage 74 von 103

1

Households supply loanable funds because of the

Wähle eine der folgenden:

  • wage income earned from working in the financial markets.

  • rent income they receive as resource owner.

  • interest income received from the borrowers

  • profit income earned from running a money-lending business

Erklärung

Frage 75 von 103

1

Businesses demand loanable funds because

Wähle eine der folgenden:

  • firms need to borrow funds for new projects, such as building new factories or carrying out new projects

  • households charge a much higher rate of interest than the going rate of interest in the loanable funds market.

Erklärung

Frage 76 von 103

1

What is the general relationship between the business cycle and unemployment and inflation?

Wähle eine der folgenden:

  • During an expansion, unemployment and inflation increase.

  • During an expansion, unemployment falls and inflation increase.

  • During an recession, unemployment and inflation increase.

  • During an recession, unemployment and inflation decrease.

Erklärung

Frage 77 von 103

1

The rule of 70 is a mathematical formula that is used to calculate the number of years it takes real GDP per capita or any other variable to double.

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 78 von 103

1

Crowding out occurs when governments must borrow funds which cause interest rates to rise and thus private investment is reduced.

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 79 von 103

1

Two key factors that cause labor productivity to increase over time are

Wähle eine oder mehr der folgenden:

  • quantity of capital per hour worked

  • level of technology

  • quantity of labor per hour worked

  • decline in unionization

  • slacking of labor laws

Erklärung

Frage 80 von 103

1

Which of the following will NOT lead to economic growth?

Wähle eine der folgenden:

  • Technological change

  • Increase in the capital stock

  • Increase in average wages

  • Improved labor productivity

Erklärung

Frage 81 von 103

1

Which of the following is most likely to lead to sustained long-run growth?

Wähle eine der folgenden:

  • increases in labor productivity

  • increases in the labor participation rate

  • exploitation of natural resources

  • transfer of workers from agricultural to industrial sectors

Erklärung

Frage 82 von 103

1

During the expansion phase of the business cycle, production, employment, and income

Wähle eine der folgenden:

  • increase

  • decrease

Erklärung

Frage 83 von 103

1

During the recession phase of the business cycle, production, employment, and income

Wähle eine der folgenden:

  • increase

  • decrease

Erklärung

Frage 84 von 103

1

Firms that act as financial intermediaries match households that have excess funds with firms that want to borrow funds. What other key services does the financial system provide to savers and lenders?

Wähle eine oder mehr der folgenden:

  • allows savers to spread their money among many financial investments.

  • provides an easy method of exchanging a financial security for money.

  • collects and communicates information about borrowers to savers.

  • insures investments against decreasing in value.

Erklärung

Frage 85 von 103

1

Long-run growth in GDP is determined by

Wähle eine der folgenden:

  • capital, labor productivity, and technology

  • capital, labor productivity, and government expenditures

  • consumption, investment, and government expenditures

  • consumption, investment, and technology

Erklärung

Frage 86 von 103

1

Technological progress is affected by

Wähle eine oder mehr der folgenden:

  • private property rights

  • new software developments

  • population growth

  • investment in capital

  • entrepreneurship

Erklärung

Frage 87 von 103

1

Potential GDP

Wähle eine oder mehr der folgenden:

  • measures the maximum that a firm is capable of producing

  • increases over time as the labor force grows.

  • increases over time as technological change occurs

Erklärung

Frage 88 von 103

1

Which of the following contribute(s) to shorter recessions,longer expansions, and less severe fluctuations in real GDP?

Wähle eine oder mehr der folgenden:

  • monetary policy

  • unemployment insurance

  • a service-based economy

Erklärung

Frage 89 von 103

1

Business cycle: alternating periods of economics expansion and economic recession.

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 90 von 103

1

Long-run economic growth: the process by which rising productivity increases the average standard of living.

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 91 von 103

1

The best measurement for the standard of living is

Wähle eine oder mehr der folgenden:

  • GDP per person

  • real GDP per capita

Erklärung

Frage 92 von 103

1

This is the equation of growth of real GDP:

Real GDP 2012 - Real GDP 2011
--------------------------------------------- x 100
Real GDP 2011

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 93 von 103

1

Rule of 70= the number of years to double.

70
----------------
Growth rate

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 94 von 103

1

The quantity of goods and services that can be produced in one hour of work or by one worker

Wähle eine der folgenden:

  • labor productivity

  • capital

  • potential GDP

Erklärung

Frage 95 von 103

1

The quantity of goods and services that can be produced in one hour of work or by one worker

Wähle eine der folgenden:

  • labor productivity

  • capital

  • potential GDP

Erklärung

Frage 96 von 103

1

Manufactured goods that are used to produce goods and services.

Wähle eine der folgenden:

  • capital

  • Financial markets

Erklärung

Frage 97 von 103

1

The level of real GDP attained when all firms are producing at capacity.

Wähle eine der folgenden:

  • Potential GDP

  • Labor productivity

Erklärung

Frage 98 von 103

1

Markets where financial securities such as stocks and bonds are bought and sold.

Wähle eine der folgenden:

  • financial markets

  • financial intermediaries

Erklärung

Frage 99 von 103

1

The system of financial markets and financial intermediaries through which firms gain funds from households.

Wähle eine der folgenden:

  • Financial system

  • Financial market

Erklärung

Frage 100 von 103

1

Firms such as banks, mutual funds, pension funds, and insurance companies, that barrow funds from savers and lend then to borrowers.

Wähle eine der folgenden:

  • Financial intermediaries

  • Financial advisors

Erklärung

Frage 101 von 103

1

The interaction of borrowers and lenders that determines the market interest rate and quantity of loanable funds exchanged.

Wähle eine der folgenden:

  • Market for loanable funds

  • Crowding out

Erklärung

Frage 102 von 103

1

A decline in private expenditures as a result of an increase in Government purchases.

Wähle eine der folgenden:

  • Crowding out

  • Crowding in

Erklärung

Frage 103 von 103

1

During a recession, durable goods decrease and undurable goods don't change because they are essential.

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

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