1 / 41

Which of the following would be counted as part of GDP?

Which of the following would be counted as part of GDP?. Intermediate goods Final goods Transfer payments Increase in inventories . Which of the following would be counted as part of GDP?. Final goods Increase in inventories .

zea
Download Presentation

Which of the following would be counted as part of GDP?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Which of the following would be counted as part of GDP? Intermediate goods Final goods Transfer payments Increase in inventories

  2. Which of the following would be counted as part of GDP? Final goods Increase in inventories

  3. Which of the following would be counted as part of U.S. GDP for 2010? Winning $1,000 playing the slots in Vegas $10,000 invested in a stock. A new house built, but not sold. A person cleaning his own yard.

  4. Which of the following would be counted as part of U.S. GDP for 2010? A new house built, but not sold.

  5. Which of the following would be counted as part of U.S. GDP? Illegal activities Barter Purchase of used goods Volunteer work

  6. Which of the following would be counted as part of U.S. GDP?

  7. A house-husband gets a job, earning $5,000. The family spends $3,500 on various items at the mall and pays $1,000 in income taxes. $500 is saved in a bank, which loans the money to a business that buys new equipment. The $1,000 is transferred to a college student, who spends $500 on used books and $500 on pizza. What is the $ impact on GDP?

  8. Which of the following would be counted as unemployed? 17 year old high school student Member of the armed forces Adult working 10 hours per week 16 year old applying to Starbucks

  9. Which of the following would be counted as unemployed? 16 year old applying to Starbucks

  10. Which of the following would most likely be considered to be underemployed? 17 year old high school student Member of the armed forces Adult working 10 hours per week 16 year old applying to Starbucks

  11. Which of the following would most likely be considered to be underemployed? Adult working 10 hours per week

  12. Which of the following would be considered to be frictionally unemployed? Person who loses a job because of a recession High school student looking for her 1st job Person is replaced by a computer Person quits her job and begins applying for a new one

  13. Which of the following would be considered to be frictionally unemployed? High school student looking for her 1st job Person quits her job and begins applying for a new one

  14. Which of the following would be considered to be structurally unemployed? Person who loses a job because of a recession High school student looking for her 1st job Person is replaced by a computer Person quits her job and begins applying for a new one

  15. Which of the following would be considered to be structurally unemployed? Person is replaced by a computer

  16. Which of the following would be considered to be cyclically unemployed? Person who loses a job because of a recession High school student looking for her 1st job Person is replaced by a computer Person quits her job and begins applying for a new one

  17. Which of the following would be considered to be cyclically unemployed? Person who loses a job because of a recession

  18. Calculate the unemployment rate:250 people are in the civilian labor force. 230 are employed. 8%

  19. 300 people are in the civilian labor force. 21 are unemployed. What is the unemployment rate?What would the unemployment rate be if 9 of the unemployed people give up looking for a job? 7% 4.1%

  20. Aggregate Demand declines while Aggregate Supply does not change. TRUE FALSE True or False: Total output will fall. The price level will rise. Unemployment will increase. TRUE

  21. Aggregate Demand remains the same while Aggregate Supply increases. FALSE FALSE True or False: GDP will decline. The price level will rise. Employment will increase. TRUE

  22. The American People start feeling dramatically pessimistic. FALSE TRUE True or False: Aggregate Supply will fall. GDP will decline. The price level will rise. Unemployment will increase. FALSE TRUE

  23. The level of interest rates declines. FALSE TRUE True or False: Aggregate Demand will fall. Output will rise. The price level will rise. Employment will decrease. TRUE FALSE

  24. If the marginal propensity to save is 0.12, the marginal propensity to consume will be: A. 1.0 B. 1.12 C. 0.88 D. 0.12

  25. If the marginal propensity to save is 0.12, the marginal propensity to consume will be: C. 0.88

  26. Disposable income increases by $600. The marginal propensity to save is 0.25. Consumption will: A. Increase $150 B. Decrease $150 C. Increase $450 D. Decrease $450

  27. Disposable income increases by $600. The marginal propensity to save is 0.25. Consumption will: C. Increase $450

  28. Disposable income increases by $800, resulting in an increase in consumption of $680. What is the marginal propensity to save? A. $120 B. $680 C. 0.85 D. 0.15

  29. Disposable income increases by $800, resulting in an increase in consumption of $680. What is the marginal propensity to save? D. 0.15

  30. A decrease in the marginal propensity to save of 6% will result in a: A. 6% decrease in consumption B. 6% increase in consumption C. 94% decrease in consumption D. 94% increase in consumption

  31. A decrease in the marginal propensity to save of 6% will result in a: B. 6% increase in consumption

  32. END OF REVIEW ~ Part 1

  33. 1. The stock market dramatically rises. What will happen to: GDP The overall price level Unemployment Illustrate using the AS/AD graph

  34. 2. Interest rates rise. What will happen to: National output The rate of inflation Unemployment Illustrate using the AS/AD graph

  35. 3. More and more people get jobs. What would happen to the level of real GDP? Illustrate using the Production Function

  36. 4. The cost of oil declines.What will happen to: GDP The rate of inflation Employment Illustrate using the AS/AD graph

  37. 5. The economy is experiencing an “inflationary gap”. Illustrate using the AS/AD graph Would unemployment likely be higher or lower than 5%? What change in confidence would move the economy to full employment equilibrium?

  38. 6. The government cuts spending.What will happen to: Output The general price level Unemployment Illustrate using the AS/AD graph

  39. 7. The economy improves technology over the years. What would happen to the level of potential GDP? Illustrate using the Production Function

  40. 6. Productivity of labor declines.What will happen to: GDP The rate of inflation Employment Illustrate using the AS/AD graph

  41. 9. The economy is experiencing a “recessionary gap”. Illustrate using the AS/AD graph Would employment likely be higher or lower than 95%? What change in confidence would move the economy to full employment equilibrium?

More Related