Macroeconomics Review Part 2

Based on the duck scale, how are you doing today?

Amazon spent $700 million dollars in 2019 buying 100,000 new electric delivery trucks. To which part of the GDP equation does this belong?

• Consumer spending

• Investment spending

• Government spending

• Net exports

The U.S. Navy spent over $1 billion purchasing new helicopters. To what part of the GDP equation does this belong? 

• Consumer spending

• Investment spending

• Government spending

• Net exports

The items in the photo that are purchased at the yard sale would not count towards GDP. To which exclusion of GDP do they belong?

• Intermediate products

• Secondhand sales

• Nonmarket transactions

• Underground economy

The number 4 in the image represents which part of the business cycle?

• Expansion

• Contraction

• Peak

• Trough

Lucia quit her job at Marble Slab Creamery because of rude customers. She is currently searching for a new job, but hasn't found one yet. Which type of unemployment is this?

• Cyclical unemployment

• Frictional unemployment

• Seasonal unemployment

• Structural unemployment

A UPS delivery truck driver is replaced by a self-driving delivery truck. Which type of unemployment is this?

• Cyclical unemployment

• Frictional unemployment

• Seasonal unemployment

• Structural unemployment

Antonia worked at the Ford automobile factory in Chicago, but she was recently laid off due to a recession. Which type of unemployment is this?

• Cyclical unemployment

• Frictional unemployment

• Seasonal unemployment

• Structural unemployment

The Consumer Price Index (CPI) is used to calculate and measure

• GDP

• Inflation

• Unemployment

• Economic growth

Honda, a Japanese car company, has 12 factories throughout the United States. Would these cars produced count towards the GDP or GNP of Japan?

• GDP

• GNP