ECON202 - Quiz _1 Version 3

ECON202 - Quiz _1 Version 3 - d the individuals who are...

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Quiz #1 Version 3 1. Full employment occurs when a. everyone has a job b. everyone who wants a job has one c. there is no frictional unemployment d. there is no cyclical unemployment e. there is no structural, frictional, and seasonal unemployment 2. Assume net exports are -$220, consumption is $5,000, tax revenues are $1,000, government purchases are $1,500, and 2003 GDP, calculated by the expenditure approach, is $8,000. We can conclude that a. private investment was $1,940 b. public investment was $310 c. private investment was $320 d. private investment was $1,720 e. public investment was $1,730 3. If the unemployment rate is 6 percent, that means that 6 percent of a. the population is not working b. potential workers do not have jobs c. the workforce is not working at that time
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Unformatted text preview: d. the individuals who are looking for work cannot find jobs e. people who want to work cannot find jobs 4. What are the three important macroeconomic goals about which most economists, and society at large, agree? a. economic growth, full employment, and low interest rates b. economic growth, full employment, and stable prices c. economic growth, zero unemployment, and falling prices d. economic growth, low unemployment, and a balanced budget e. economic growth, a balanced budget, and balanced international trade 5. The largest component of GDP is a. tax revenue b. government purchases of goods and services c. the nation's capital stock d. private investment spending e. private consumption expenditures...
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This note was uploaded on 03/15/2009 for the course ECON 202 taught by Professor Brucemcgough during the Spring '09 term at Oregon State.

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