Economic Data and Productivity & Technology

Unemployment rate is

• percentage of number of people over the age of 16 who are looking for a job

• total value of all final goods produced in a country in one year

• total value of all final goods produced in a country in one year divided by population

• a rise in prices in an economy

GDP is

• percentage of number of people over the age of 16 who are looking for a job

• total value of all final goods produced in a country in one year

• total value of all final goods produced in a country in one year divided by the population

• a rise in prices in an economy

GDP per capita is

• a rise in prices in an economy

• total value of all final goods produced in a country in one year divided by the population

• total value of all final goods produced in a country in one year

• percentage of number of people over the age of 16 who are looking for a job

inflation is

• percentage of number of people over the age of 16 who are looking for a job

• total value of all final goods produced in a country in one year

• total value of all final goods produced in a country in one year divided by the population

• a rise in prices in an economy

What are two ways that economic data can be used?

• to determine how healthy an economy is

• to compare one's country to another country

• to plan personal spending

• to predict weather

Which of the following is NOT an economic indicator?

• inflation

• GDP

• Unemployment Rate

• GDP per dollar

Which of the following is NOT true?

• countries want a HIGH GDP

• countries want a LOW unemployment rate

• countries want a LOW inflation rate

• countries want a LOW GDP

Which of the following is true?

• countries want a HIGH unemployment rate

• countries want a LOW GDP

• countries want a HIGH inflation rate

• countries want a LOW unemployment rate

GDP _______ during COVID.

• increased

• decreased

• stayed the same

productivity is

• the amount of goods produced for each hour of a worker's time

• quality of life that people have where they live

• equipment and structures used to produce goods/services

• knowledge and skills that workers acquire through education and training