Warm_up__Wissink_April_21 - Econ 002 Wissink April 23 Warm...

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Econ 002   Wissink   Warm up April 23 Warm up _____1. Which of the following is an example of a final good or service? (a) Chocolate a bakery purchases to make cakes. (b) Coffee beans that are purchased by a restaurant owner from a wholesale food distributor. (c) An economics textbook you purchase with the intent of selling after your course is over. (d)The lumber purchased by a construction company that will be used by the company to build a model house to show to its clients. _____2. A former worker who is no longer looking for a job is considered: (a) structurally unemployed. (b) cyclically unemployed. (c) frictionally unemployed. (d) underemployed. (e) none of the above. _____3. "Double-counting" of national product would result from including: (a) total production of autos and total production of bowling balls. (b) value-added of both bakers and flour mills. (c) total of investment expenditures and the total of government purchases of goods and services. (d)
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Warm_up__Wissink_April_21 - Econ 002 Wissink April 23 Warm...

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