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WorksheetsMacro Economics 19.1 - 19.2
Total questions: 14
Worksheet time: 7mins
Microeconomics studies individuals, Macroeconomics studies...
macros
individual decisions
economic aggregates
lots of little details
Per-capita literally means...
measured by head
measured by feet
measured by capital
measured by biggest city
Per-capita GDP is...
Things / Stuff
Population / GDP
GDP / Population
I don't know, I wasn't listening. I'm really sorry.
There is only one way of calculating GDP.
True
False
Do some governments attempt to include unseen market activity?
Yes
No
Which is NOT a way of calculating GDP?
Expenditure
Output
Production
Income
GDP measured in USD is an absolute amount.
True
False
GDP measured in %, or % change is an absolute amount.
True
False
The GDP of country A is 30 billion USD and country B is 20 billion USD.
Which do you expect will have the higher standard of living?
A
B
The GDP per-capita income of A is 30,000 USD/yr, and B is 50,000 USD/yr.
Which do you think has the higher standard of living?
A
B
FCU owns 10,000 slave students, all working in a coal mine. Each student produces 1 ton of coal per year. 1 ton of coal is worth 10 USD.
What is FCU's GDP?
10,000
100,000
1,000
I want to go home...
The three conditions for unemployment are:
being able to work
does not have a job
looking for employment in the last four weeks
being disabled
Which is NOT a component of expenditure based GDP?
S = Surplus
C = Consumption
I = Investment of new physical capital
G = Government expenditure
X = Exports
Y =
C + I + G + X + M
C + I + G + X - M
C - I - G - X - M
C - I - G - X + M
