Indicators

GDP stands for

• Gross Domestic Pineapples

• Graph Domestic Product

• Gross Domestic Product

• Giant Domestic Product

Full Employment Ranges from

• 0%

• 4%-6%

• 8-10%

• 10%

Macroeconomic goals of an economy

• economic growth and stable prices

• economic growth, stable prices, and full employment

• economic growth, fixed prices, and full employment

• economic growth, stable prices, and no employment

True or False: There will always be people who are unemployed

• True

• False

If unemployment is decreasing

• Real GDP is increasing

• Real GDP is decreasing

• Real GDP has no change

• Real GDP has many changes.

if unemployment is increasing

• Real GDP has many changes.

• Real GDP has no change

• Real GDP is decreasing

• Real GDP is increasing

Gross Domestic product is the total value of

• how much a country spends each year

• price changes and inflation

• all goods and services produced in other countries for one year

• all goods and services produced in the country for one year

Which one of these is NOT an economic goal

• Economic Growth

• Price Stability

• Decreasing supply and demand

• Full Employment

If GDP is increasing, what's happening in the economy?

• We're producing more goods and services

• We're producing less goods and services

When a machine or newer technology takes over your job

• Structural Unemployment

• Cyclical Unemployment

• Seasonal Unemployment

• Frictional Unemployment