GDP Unemployment Flashcard publish

Front

An airline buying a plane belong in which part of the GDP formula? GDP = C+I+G+(X-M)

Back

Investment Expenditures

Front

What type of GDP is calculated with the current year's prices? Options: Nominal GDP, Real GDP, GDP per capita

Back

Nominal GDP

Front

GDP is calculated by: adding consumption + investment + government spending + (exports sold - imports bought)

Back

adding consumption + investment + government spending + (exports sold - imports bought)

Front

_______ occurs when people are in between jobs, entering and reentering the labor force.

Back

Frictional unemployment

Front

Farm helpers are unemployed when the cropping season is over.

Back

seasonal

Front

Who among the following would be considered as unemployed? A graduating student of legal age to work, An entrepreneur in the process of starting a new business, A secretary who has resigned from work & looking at job ads, A housewife running 2 internet shops at the same time

Back

A secretary who has resigned from work & looking at job ads

Front

When individuals lose jobs due to a decline in the economy (aggregate demand), often during an economic recession.

Back

Cyclical Unemployment

Front

Individuals are unemployed due to a lack in skills that modern industries need, change in technology.

Back

Structural Unemployment

Front

Sum of the employed and the unemployed

Back

Labor Force

Front

Unemployment caused by an imbalance between the skills of workers and the requirements of employers

Back

Structural unemployment