Macro Review #2 (SSEMA1)

Unemployment caused by recession

• Structual
• Fricional
• Seasonal
• Cyclical 

This type of budget requires government spending to equal government revenues.

• capital
• balanced
• personal
• none of the above

Who is most likely to be hurt by inflation?

• someone who borrowed money
• a retiree on a fixed income
• a business owner
• the U.S. government

The formula for GDP is

• C+X+G+Y
• C-I-G-Xn
• C+I+G+NX
• I+G-Xn-Xi

Mr. Johns is quitting his job as a teacher and moving in Ohio to take a new job in California. He is

• Cyclically unemployed
• Seasonally Unemployed
• Structurally Unemployed
• Frictionally Unemployed

If one wanted to know whether there had been inflation or not, the BEST measure to observe would be the

• GDP
• Business cycle
• CPI
• National Dept

The total dollar value of all final goods and services produced within the country’s border in a given year after inflation is taken out of the data.

• Nominal GDP
• GDP/capita
• Gross GDP
• Real GDP

Which of the following is not a determinant of aggregate demand ?

• Change in Consumer Spending
• Change in Political Parties
• Change in Government Spending
• Change in investment Spending

An increase in the general level of prices. 

• CPI
• Deflation
• Inflation

Unemployment caused by the changes in the skills needed by employers

• Frictional
•  Cyclical
• Seasonal
• Structural