Macro Economics

What is GDP per capita?

• GDP divided by the value of capital inputs

• GDP divided by the population

• GDP divided by the number of workers

• GDP divided by the number of weeks in the year

The rate of economic growth is measured by

• (original/difference) x 100

• difference x 100

• potential - actual level of output

• (difference/original) x 100

Which of the following will increase economic growth

• An increase in unemployment

• An increase in incomes

• An ageing population

• Investment in technology

A period of high economic activity and high employment is:

• A recovery

• A recession

• A boom

• A slowdown

Which of the following will NOT increase economic growth?

• Updates in technology

• Immigration

• Increased taxation

• Increased Government spending

Which of the following is NOT a consequence of economic growth

• Less employment

• Pollution

• Increased incomes

• Improved living standards

Unemployment occurs when

• Someone wants a job but can't find work

• Someone is able and willing to work but can't find a job

• Someone is able to work but does not have employment

• Work provided is not sufficient to meet the needs of workers

The labour force survey measure of unemployment is

• Usually higher than the claimant count

• Usually lower than the claimant count

• Fully representative of the labour force

• A measure often used to make comparisons of unemployment between countries

The rate of unemployment is

• How many people are not in work / Total Population x 100

• Total Unemployed/Total population x 100

• Total unemployed/Workforce x 100

• Total unemployed/ (total employed + total unemployed) x 100

During the recession more businesses shut down, causing unemployment. This type of unemployment is:

• Seasonal

• Frictional

• Structural

• Cyclical