Economics Quiz 2000
GDP 2000
CONSUMPTION 1500
Government 300
Net taxes 400
Private saving equals ____ and national saving equals ____. A) 100; 100 B) 100; 200 C) 200; 300 D) 500; 500 E) 500; 600 Answer: B
You are given the following information about the economy:
Household saving 300
Business saving 700
Government purchases 1,000
Government transfers and interest payments 500
Government tax collections 1,500
GDP 5,000 Public saving is _____ and national saving is ______.
A) 0; 0 B) 0; 300 C) 0; 1,000 D) 500; 800 E) 1,000; 2,000 Answer: C
These data are available for Macroland: Business and household saving 67
Government transfers and interest payments 14
Government purchases …show more content…
B) the additional unemployment not captured in official statistics resulting from discouraged workers and the involuntary part-time workers. C) the extra unemployment that occurs during periods of recession. D) short-term unemployment that is associated with the process of matching workers with jobs. E) long-term and chronic unemployment that exists even when the economy is producing at a normal rate. Answer: D
Short-term unemployment that is associated with the process of matching workers with jobs is called ______ unemployment.
A) cyclical B) structural C) global D) technological E) frictional Answer: E
The extra unemployment that occurs during periods of recessions is called _____ unemployment.
A) cyclical B) structural C) global D) seasonal E) frictional Answer: A
Structural unemployment occurs because: A) new jobs are created, while old jobs cease to be viable. B) workers differ in their skills and experience. C) jobs differ in their location, skills required, and working …show more content…
A) Dora lost her job when the textile mill closed. She does not have skills to work in another industry and has been unemployed for over a year. B) Marsha was laid off from her job with the airline because the recession has reduced the demand for airline travel. She expects to get her job back when the economy picks up. C) George is an unskilled worker who mows lawns in the summer, but is unemployed the rest of the year. D) Jim had a job as an engineer, but quit when his wife was transferred to another state. He looked for a month before finding a new job that he liked. E) Hector looked for a job for five weeks after finishing college. He turned down several jobs that didn't use his skills, but now has a job requiring the expertise he gained in college. Answer: B
Which of the following is an example of frictional unemployment? A) Dora lost her job when the textile mill closed. She does not have skills to work in another industry and has been unemployed for over a year. B) Marsha was laid off from her job with the airline because the recession has reduced the demand for airline travel. She expects to get her job back when the economy picks
CONSUMPTION 1500
Government 300
Net taxes 400
Private saving equals ____ and national saving equals ____. A) 100; 100 B) 100; 200 C) 200; 300 D) 500; 500 E) 500; 600 Answer: B
You are given the following information about the economy:
Household saving 300
Business saving 700
Government purchases 1,000
Government transfers and interest payments 500
Government tax collections 1,500
GDP 5,000 Public saving is _____ and national saving is ______.
A) 0; 0 B) 0; 300 C) 0; 1,000 D) 500; 800 E) 1,000; 2,000 Answer: C
These data are available for Macroland: Business and household saving 67
Government transfers and interest payments 14
Government purchases …show more content…
B) the additional unemployment not captured in official statistics resulting from discouraged workers and the involuntary part-time workers. C) the extra unemployment that occurs during periods of recession. D) short-term unemployment that is associated with the process of matching workers with jobs. E) long-term and chronic unemployment that exists even when the economy is producing at a normal rate. Answer: D
Short-term unemployment that is associated with the process of matching workers with jobs is called ______ unemployment.
A) cyclical B) structural C) global D) technological E) frictional Answer: E
The extra unemployment that occurs during periods of recessions is called _____ unemployment.
A) cyclical B) structural C) global D) seasonal E) frictional Answer: A
Structural unemployment occurs because: A) new jobs are created, while old jobs cease to be viable. B) workers differ in their skills and experience. C) jobs differ in their location, skills required, and working …show more content…
A) Dora lost her job when the textile mill closed. She does not have skills to work in another industry and has been unemployed for over a year. B) Marsha was laid off from her job with the airline because the recession has reduced the demand for airline travel. She expects to get her job back when the economy picks up. C) George is an unskilled worker who mows lawns in the summer, but is unemployed the rest of the year. D) Jim had a job as an engineer, but quit when his wife was transferred to another state. He looked for a month before finding a new job that he liked. E) Hector looked for a job for five weeks after finishing college. He turned down several jobs that didn't use his skills, but now has a job requiring the expertise he gained in college. Answer: B
Which of the following is an example of frictional unemployment? A) Dora lost her job when the textile mill closed. She does not have skills to work in another industry and has been unemployed for over a year. B) Marsha was laid off from her job with the airline because the recession has reduced the demand for airline travel. She expects to get her job back when the economy picks