Exam 3
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| What is the difference between microeconomics and macroeconomics? | show 🗑
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| GDP is defined as the: | show 🗑
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| The "market value" of a good or service refers to the: | show 🗑
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| show | finished and ready for the final user.
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| show | an import.
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| A production function is: | show 🗑
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| show | worker skills and knowledge.
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| show | Y = f(L, H, K).
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| A government can promote the development of human capital by: | show 🗑
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| The law of diminishing returns states that: | show 🗑
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| show | human capital.
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| show | investment
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| show | age 16 or older who are not in the military or institutionalized.
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| show | percentage of the working age population that is either employed or unemployed.
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| An underemployed person is one who is: | show 🗑
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| Frictional unemployment is unemployment: | show 🗑
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| show | average price that consumers pay over time for a representative basket of goods and services.
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| show | price that businesses pay over time for the inputs used in the production process.
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| Suppose that a CPI basket includes avocadoes, pineapples and oranges. Avocadoes become expensive, and consumers substitute away from avocadoes and buy hummus instead. If the CPI basket does not change to reflect the move away from avocados, result is: | show 🗑
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| Menu costs are the: | show 🗑
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| show | on average, prices went down across the economy.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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