AP Economics Section 2 Review 3/1/2021

investment spending includes spending on which of the following? (a)  

• stocks
• physical capital
• inputs
• services

which of the following is included in the calculation of GDP?

• intermediate goods

• used goods

• stocks and bonds

• domestically produced capital goods

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

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

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

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

• employed

• employed plus the number discouraged

• in the labor force

• in the population

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

a worker who is not working while engaged in a job search after moving to a new city is considered - (a)  

• frictionally unemployed
• structurally unemployed
• cyclically
• underemployed

A worker who is not working because his or her skills are no longer demanded in the labor market is considered which of the following. ? (a)  

• frictionally unemployed
• Structurally unemployed
• cyclically unemployed
• underemployed

the normal unemployment rate around which the actual unemployment rate fluctuates is know as which of the following? (a)  

• frictional unemployment rate
• structural unemployment rate
• cyclical unemployment rate
• natural rate of employment