WorksheetsAP Macroeconomics Unit 2 Quiz
Total questions: 25
Worksheet time: 16mins
What does government provide with the revenue it takes in from taxes?
Headaches
Public goods and services
More Congressmen
Greater control of the media
Is this counted in the GDP of the US?
Cars made by a Japanese company in California.
Yes
No
Is this counted in the GDP of the US?
Cars made by a US company in South Korea.
Yes
No
Is this counted in the GDP of the US?
A new home that was recently built.
Yes
No
Is this counted in the GDP of the US?
A farmer's purchase of a new tractor.
Yes
No
Is this counted in the GDP of the US?
A plumber's purchase of a two-year-old truck from Craigslist.
Yes
No
In which part of the GDP calculation does this fit?
You spend $15 at AMC to see the latest Avengers movie.
Consumer spending
Government spending
Investment spending
Net exports
In which part of the GDP calculation does this fit?
The US military spends $5 billion on five new helicopters.
Consumer spending
Government spending
Investment spending
Net exports
In which part of the GDP calculation does this fit?
Australia exported $6 billion worth of goods in 2018, but imported $10 billion in goods.
Consumer spending
Government spending
Investment spending
Net exports
If operators are fired and replaced with computer technology, the operators would be considered
frictionally unemployed
structurally unemployed
cyclically unemployed
dissatisfiededly unemployed dissatisfiededly unemployed
The unemployment rate is the ratio of
unemployed to labor force
employed to labor force
seeking employment to labor force
dissatisfied to labor force
The unemployment rate will drop if
A person is hired into a new job
Someone who was previously laid off is rehired
An unemployed person stops looking
ALL of these answers are CORRECT
Which of the following best defines unemployment?
The state of being able to work and actively seeking work, but unable to find employment
The state of being able to work, but choosing not to
The percentage of the labour force that is able and actively seeking work, but cannot find employment
The total number of people who do not work
When individuals lose jobs due to fall in aggregate demand, often during an economic recession.
Structural Unemployment
Cyclical Unemployment
Frictional Unemployment
Seasonal Unemployment
Which of the following is not in the labor force?
Charles, who wants to work but has given up looking for work until the weather improves.
Mary, who works part-time but wishes for work full time.
John, who has a graduate degree but is working as a waiter.
Carl, who does not have work but applied for work at a local factory.
Melissa, who just graduated from business school and is currently seeking employment as an accountant.
What type of unemployment is a person experiencing when they are laid off during a recession?
Frictional
Seasonal
Cyclical
Structural
What is it called when a worker takes a lower skilled job when they are overqualified to earn money to pay bills?
A discouraged worker
Underemployed worker
A seasonal worker
A structural worker
You will always have this because people will always want to change jobs.
frictional unemployment
seasonal unemployment
cyclical unemployment
structural unemployment
