Macroeconomics

Which of the following is not an economics indicator discussed in class?

• Presidential Policy
• Inflation 
• Gross Domestic Product
• Unemployment

Someone in between jobs

• Frictional Unemployment

• Structural Unemployment

• Discouraged Workers

• Fully Employed

Unemployment caused by lack of skills or demand 

• Structural Unemployment
• Frictional Unemployment
• Seasonal Unemployment
• Discouraged Workers

Which term is used to describe a situation where most people who are looking for work are able to find a job?

• Full employment

• Seasonal unemployment

• Frictional unemployment

• Cyclical unemployment

Mr. Skinner has quit his job in order to look for another one. Mr. Skinner

• is cyclically unemployed

• is frictionally unemployed

• is structurally unemployed

• is not counted as part of the labor force

What is the difference between real and nominal GDP?

• Real GDP = adjusted for inflation; Nominal GDP = not adjusted for inflation

• Nominal GDP = adjusted for inflation; Real GDP = not adjusted for inflation

• They are the same thing

A recession is....

• A short term downfall of economic activity

• A long term downfall of economic activity

• A general increase in economic activity

Select the three macroeconomic policy goals from the following list.

• Keep the economy growing over time

• Limit unemployment

• Keep prices stable

• Raise unemployment

• Keep the economy shrinking over time

What measure shows how well the economy is doing over time?

• Gross Domestic Product

• Unemployment Rate

• Inflation Rate

Which of the following is NOT included in a country's GDP?

• Consumer Spending

• Business Spending

• Government Spending

• Net Exports

• Net Imports