ecn101midterm1AK

ecn101midterm1AK - Exam Name_ MULTIPLE CHOICE. Choose the...

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Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Economists have suggested that the relatively higher unemployment in Europe has been caused by which of the following? 1) A) relatively high unemployment benefits B) increased labor costs C) relatively high level of worker protection D) inadequate macroeconomic policies E) all of the above Answer: E 2) The standard of living typically refers to: 2) A) the rate of unemployment B) wealth per capita C) output per capita D) all of the above Answer: C 3) When using the income approach to measure GDP, the largest share of GDP generally consists of: 3) A) labor income B) interest income C) indirect taxes D) profits E) capital income Answer: A 4) Hedonic pricing is used to: 4) A) calculate the difference between nominal GDP and real GDP B) obtain chain - weight indexes C) convert nominal values to real values D) measure the rate of change in real GDP
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ecn101midterm1AK - Exam Name_ MULTIPLE CHOICE. Choose the...

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