2.1 measures

The three ways to m assure GDP are….

• E=I=Y

• E=I=O

• O=E=X

• E=O=G

GDP at constant prices means…

• Adjusted for population

• Adjusted for inequality

• Adjusted for inflation

• Adjusted for seasonal changes

Shoe leather costs are…..

• Opportunity cost of time spent searching for places to save

• Costs of adjusting menus

• Costs of uncertainty caused by higher inflation

• Costs associated with both rising AD and falling SRAS

Which of the following is NOT a type of unemployment

• Seasonal

• Classical

• Structural

• Inflationary spiral

The base year is the year that..

• All other variables are compared to

• is always equal to 1000

• All variables are equal to

• Occurs most often

The only two measures of unemployment are….

• ILO and CC

• RPI and CC

• ILO and CPI

• HICP and CC

A limitation of CPI is….

• Includes housing costs

• Basket updated monthly

• Excludes housing costs

• Index values used

Which of the following is not a component of the BOP

• FDI

• Portfolio investment

• Goods balance

• Government budget

Which of the following is not a cause of demand pull inflation

• Lower interest rates

• Increased govt expenditure

• Lower the exchange rate

• Rise in cost of raw materials

Double counting is an issue with

• The income method

• The output method

• The expenditure method

• The wim Hoff method