AP Economics Section 2 Review 3/1/2021

Front

which of the following is included in the calculation of GDP? intermediate goods, used goods, stocks and bonds, domestically produced capital goods

Back

domestically produced capital goods

Front

which of the following is true for this year if real GDP is greater than nominal GDP: the price level has decreased since the base year, the economy is experiencing inflation, there has been economic growth, net exports are positive?

Back

the price level has decreased since the base year

Front

a country's labor force is equal to which of the following? the number of people aged 16 and above, the number of people employed plus the number of retired, the number of people employed plus the number of unemployed, the number of people working for pay

Back

the number of people employed plus the number of unemployed

Front

the number of people who are considered unemployed is equal to the number of people who are not working and are actively seeking work, are receiving unemployment compensation, plan to look for work in the future, have looked for work in the recent past

Back

are actively seeking work

Front

the unemployment rate is the number of people unemployed divided by the number-

Back

in the labor force

Front

the number of people counted as unemployed includes which of the following types of workers? discouraged workers, aspiring workers seeking their first job, underemployed workers, retired workers

Back

aspiring workers seeking their first job

Front

When inflation makes money a less reliable unit of measurement, the economy is experiencing which cost of inflation?

Back

unit of account

Front

Bringing down inflation rate is know as

Back

disinflation

Front

The real interest rate is equal to the nominal interest rate

Back

minus the inflation rate

Front

who loses from unanticipated inflation?

Back

people on fixed incomes