AP Economics Unit 3

In a circular flow model who buys from the factor market?

• Firms

• households

• People

Money that the government gives people who qualify for assistance programs is called

• Disposable income

• Consumer income

• Dividends

• transfers

Which of the following is subtracted from the equation for GDP?

• G

• C

• Im

• X

Are inventories of this year considered part of this year's GDP?

• yes

• No

Which of the following is part of GDP?

• Ford F150 from 2010

• Nails to build a deck

• A dairy Queen blizzard

• A 2022 Toyota Tacoma

Which one of the following would you expect to be higher?

• RGDP

• GDP

• Real GDP per capita

What is a reliable measure of an economy when comparing a large country with a lot of resources and small country with less resources.

• GDP

• Real GDP

• GDP Per capita

Both Employed and Unemployed

• Have looked for jobs recently

• Are in the labor force

• Are not in the labor force

• Have jobs

What equals the number of unemployed workers divided by the labor force?

• Unemployment rate

• Labor force participation rate

• employment rate

• Discouraged worker rate

People who want to be employed, but have given up looking for work

• Employed

• Underemployed

• Marginally attached workers

• Discouraged workers