{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Macro Ch5 Online Questions

Macro Ch5 Online Questions - Chapter 5 Review Questions 1...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 5 Review Questions 1. What is the difference between final goods and intermediate goods? Why is it that only the value of final goods and services is counted in GDP? 2. What is the relationship between private investment and the capital stock? What are the three components of private investment? 3. Describe the different kinds of factor payments. 4. What is the difference between nominal and real variables? What is the main problem with using nominal variables to track the economy? 5. Discuss the value and reliability of GDP statistics in both short-run and long-run analyses of the economy. 6. Real GDP (in 1996 dollars) was measured at around $8.8 trillion in 1999. Was the actual value of goods and services produced in the United States in 1999 likely to have been higher or lower than that? Why? 7. What, if anything, could the government do to reduce frictional and structural unemployment? 8. Categorize each of the following according to the type of unemployment it reflects. Justify your answers.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern