Which individual is frictionally unemployed?

D) characteristics of structural unemployment. D) 6 percentage points. LO4. Use the following to answer questions 6-7: Assume an economy which is producing only one product. The unemployment rate is: A) 18.8 percent. If year 2 is chosen for the base year, in year 3 nominal GDP and real GDP, respectively, are: A) $180 and $30. An auto dealer's sale of a new car to a nonbusiness customer.

Wir und unsere Partner nutzen Cookies und ähnliche Technik, um Daten auf Ihrem Gerät zu speichern und/oder darauf zuzugreifen, für folgende Zwecke: um personalisierte Werbung und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr über die Zielgruppe zu erfahren sowie für die Entwicklung von Produkten. The gross domestic product (GDP) of the United States is defined as the _ all _ in a given year. Which of the following do national income accountants consider to be "investment"? 37. Unrelated to the above d. What is the unemployment rate of Canada? C) be determining value added for the economy. e. B) the total income generated by that good's production. answer! 4. B) cyclical. a. D) are $11.

He tried to find another job for a year, but was unsuccessful and quit looking for work. She has been looking for similar work for a year but no company seems interested in her aircraft design skills. Inflation means that: A) all prices are rising, but at different rates.

B) flowers purchased by homeowner Lenny Davis. By summing the values added at each stage in the production of some good we obtain: A) the price of that good. What a waste iv. a. a. Explain in each instance. D) this amount should be included in calculating 1998's GDP. 1d by adding the cyclical and structural unemployment rates. The painter painting the family home is excluded from GDP since the services offered are of his benefits.... See full answer below. All rights reserved. Social Security payments received by a retired factory worker.

i. 31. C) of $18 million has occurred. (a) A monthly scholarship check received by an economics student (b) The purchase of a new truck by a trucking company The value added by the business to these products is: A) $5,000. not create current production and are not included as part of GDP. Refer to the above information. Examples include reselling of used products, illegal sales, sale of goods made in foreign countries, and government transfer payment.

- Definition & Theory, Gross Domestic Product: Definition and Components, What Is Brand Equity? f. Government purchases of newly produced aircraft. 1. a.

Interest received on an AT'S corporate bond. BC? D) $1,000. Problem 12DQ from Chapter 7: Which of the following are included or excluded in this year... Get solutions

Explain your reasoning. D) be measuring GDP. C) is $45. Suppose Smith pays $100 to Jones. C) $45. C) frictional D) structural. [text: E p. 488; MA p. 132] 12. The service of a mechanic in fixing his own car i. A monthly scholarship cheque received by an economics student b. Anne Kasperson works in her own home as a full-time caretaker and homemaker. Refer to the above data.

d.

D) be unchanged.

Social Security payments received by a retired factory worker: . View desktop site, 1)a)Scholarship received would be excluded from GDP calculation as it is a part of transfer payment. D) may cause the official unemployment rate to overstate the amount of unemployment. C) secularly unemployed. c. The unpaid services of a family member in painting the family home d. Income of a dentist from the dental services provided: . b. b. The painter painting the family home is excluded from GDP since the services offered are of his benefits... Our experts can answer your tough homework and study questions. D) technological change. D) has not occurred. Which of the following are included and which are excluded in calculating this year’s GDP? Use the following to answer questions 19-21: The descriptions give the responses of four individuals to Statistics Canada. We can conclude that: A) GDP in 2000 is $525 billion. B) obtain a sum substantially larger than the GDP. 39. Yahoo ist Teil von Verizon Media. D) $90 Page 2 Social Security payments received by a retired factory worker. 'Recession hits local factory; 1,800 workers laid off V. 'Due to the additional job gains in the labor market, the economy is now experiencing full employment, in spite of the measured unemployment rate of 6.5%'. e. 11. If the per unit prices of the three goods each were $1 in a base year used to construct a GDP price index, then real GDP in the current year: A) is $110. Privacy Which of the following are included in this year’s GDP? © 2003-2020 Chegg Inc. All rights reserved. D) the economy produced no cap on of 1933's GDP used up more capital goods than were produced in economy produced no capital goods at all in 1933. A headline reads: "Steel industry suffers slump as import competition increases: unemployment rises."

© copyright 2003-2020 Study.com. Use the following to answer questions 8-9: Only three goods are produced in an economy in the following amounts: A-10, B - 30,C=5. 34. B) 12.5 percent. C) may cause the official unemployment rate to understate the amount of unemployment. Sie können Ihre Einstellungen jederzeit ändern. D) natural. The services of a comercial painter in painting the family home.

4 points a. Cyclical unemployment is a consequence of: A) a decline in aggregate spending. 16. D) $30. 11. It used $18 million of the proceeds to replace obsolete equipment in its factory and $7 million to repay bank loans. We can conclude that: A) the official unemployment rate will fall. t I'm trying to find something that Q2b. | B) structural C) cyclical.

Capitalist economies have been characterized by: A) occasional instability of employment and price levels. The business makes 100 units of the product and each of them sells for $65. Which individual is cyclically unemployed? 15. - Definition & Importance, Types of Internal Organizational Change: Structural, Strategic, People, and Process, Gross Domestic Product: Items Excluded from National Production, What Are the Stages of Dying? Page 9 B) the decreasing relative importance of goods and the increasing relative importance of services in our economy. d. The publication and sale of a new economics textbook. D) included in GDP because it reflects production 17. Explain your answer in each case. He was laid off six months ago as the economy weakened. Gross Domestic Product as an essential factor in an economy. Which of the following are included in this year's GDP? a.

D) $336. Social security payments received by a retired factory worker c. The services of a painter in painting the family home d. The income of a dentist e. The money received by Smith when she sells her economics textbook to a book buyer f. Year Units of output Price per unit 6. B) employed. The purchase of an almost new tractor by farmer Kojo C. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g. A restaurant spends $1,000 dollars to buy chickens and chillies to use in producing its famous hot chicken samosas. Five million of the part-time workers switch to full-time work.

Ryan lost his job last year when his company downsized and laid off middle-level managers. D) in the labour force. e. Sciences, Culinary Arts and Personal Which of the following are actually included in this year’s GDP? C) chemicals purchased by Green Grass Lawn Care. In 1933 net priva A) the economy was expanding in that year. d. The income of a dentist. Nominal GDP in the current year is: A) $110. ivate domestic investment was minus $208 million. The rate of unemployment tends to be lowest for: A) black teenagers. Interest received on an AT&T corporate bond. B) reduces the size of the labour force, but does not affect the unemployment rate.

Page 3 However, not all commodities are part of the GDP.

Refer to the above information. D) $120 and $100. B) $402. a. in say with certainty that the GDP has increased, but we cannot determine the amount. a. As a result, investment: A) of $7 million has occurred. 26. Calculate the unemployment rate. (circle one)] b. Daten über Ihr Gerät und Ihre Internetverbindung, darunter Ihre IP-Adresse, Such- und Browsingaktivität bei Ihrer Nutzung der Websites und Apps von Verizon Media. D) declining populations. a. d. Income of a dentist from the dental services provided. 1. b. Explain your answer in each case. B) excluded from GDP because an intermediate good is involved. Interest on an AT&T bond b. Refer to the above information. This meant that: e domestic investment exceeded depreciation by $208 million. B) is found by adding the cyc C) may change from one decade to another. a. Refer to the above information. Suppose there are 10 million part-time workers and 90 million full-time workers in an economy. 2.