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A person who is employed in the construction industry may frequently experience
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The nominal rate of interest is
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2 exam 2 economey

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A person who is employed in the construction industry may frequently experience seasonal unemployment.
The nominal rate of interest is the interest rate observed in today's market
The average duration of unemployment across the labor force is about 15 weeks
The total market value of the nation's annual final products produced domestically bes defines the GDP
GDP measures the annual value of final goods and services produced by factors of production located within a national border.
In the factor market, households sell resources.
Gross Domestic Product is the total market value of all final goods and services produced during a year by factors of production located within a nation's borders.
Which one of the following is true about saving? Saving enables economic growth by providing for investment in the capital stock.
Which of the following individuals in NOT counted as unemployed? Jack,who has become discouraged about ever finding a job and has stopped looking.
Ups and downs in business activity are referred to as business fluctuations.
In the United States, a patent lasts 20 years.
Profits are a cost of doing business entrepreneurs would not incur the risk of starting a business if they didn't expect to earn profits.
Which on of the following is true about the base year? In the base year, the value of a price index is 100.
Assume you borrow funds to buy a new car at 10 percent interest and you think that the economy-wide rate of inflation over the life of the loan will be 8 percent. If you are correct in your assumption, your real rate of interest on the car loan will be 2 percent.
Suppose medical care makes up 5 percent of the CPI index, and that prices rise in the medical care area faster than in the rest of the economey. An elderly couple spends 15 percent of their income on medical care. for this couple, the CPI understates the inflation rate because of the importance of medical care for this family.
The definition of a job loser is an individual Whose employment was terminated involuntarily due to a downturn in the economey.
What can be expected to happen in a country that enacts trade barriers? The rate of economic growth will decrease
The observation that goods and services flow in one direction and money payments flow in another direction is the principle behind the circular flow of income
Creative destruction refers to the creation of new jobs and economic growth after destroying old jobs.
Resources can be purchased in the factor markets.
According to the text, data supports the conclusion that lower trade barriers help boost per capita real Gross Domestic Product (GDP) growth.
A higher rate of saving should lead to more invesment, capital growth, and future consumption.
Frictional unemployment is related to job search difficulties for potential workers.
An increase in fixed investment spending that increases GDP occurs when a business buys a new computer.
Inflation can be defined as a decrease in the purchasing power of money.
Created by: amaal123
 

 



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