Review Econ Growth

A computer programmer is laid off because of a recession.

• Structural

• Cyclical

• Seasonal

• Frictional

A literary editor leaves her job in New York to look for a new job in San Francisco.

• Structural

• Cyclical

• Seasonal

• Frictional

Advances in technology make the assembly-line worker’s job obsolete.

• Structural

• Cyclical

• Seasonal

• Frictional

Which of the following individuals is classified as unemployed?

• A fifteen-year-old high school student who is looking for a babysitting job

• A laid-off computer programmer who has given up looking for a new job

• A parent who works in an after-school day care center for 15 hours a week

• A recent college graduate who is looking for her first job

All of the following would be included in a country's GDP except

• Consumer spending on Black Friday

• Apple purchasing a new factory

• A college student paying for tuition

• A retired person receiving socials security benefits

Which of the below is not counted in GDP

• Consumption

• Investment

• Government Spending

• Intermediate goods/services

What category of GDP would the following be counted in: An increase in business inventories

• Consumption

• Investment

• Government Spending

• Net Exports

Counted in GDP, yes or no: You buy a 2020 used car

• yes

• no