101 Economic Quizes 10 - 17 - CHAPTER 10 Marks: 1 The...

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CHAPTER 10 Marks: 1 The production possibilities will definitely shift outward if: Choose one answer. a. Land and capital increase and, at the same time, the labor force decreases. b. Available resources decrease and, at the same time, technology improves. c. The labor force increases and, at the same time, technology improves. d. The labor force decreases and, at the same time, land and capital decrease. Correct Marks for this submission: 1/1. Question 2 Marks: 1 During a period of inflation: Choose one answer. a. Some prices may fall. b. People who have borrowed money may be better off. c. The real incomes of some people may decrease. d. All of the above are possible. Correct Marks for this submission: 1/1. Question 3 Marks: 1 When snow ski instructors seek employment after the snow has melted, the unemployment rate goes up. This situation is an example of: Choose one answer. a. Frictional unemployment. b. Seasonal unemployment. c. Structural unemployment. d. Cyclical unemployment. Incorrect Marks for this submission: 0/1. Question 4
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Marks: 1 The Consumer Price Index is used specifically to measure the: Choose one answer. a. Unemployment rate. b. Inflation rate. c. Growth rate of the economy. d. Business cycle. Correct Marks for this submission: 1/1. Question 5 Marks: 1 Real GDP measures changes in: Choose one answer. a. Prices, but not output. b. Output, but not prices. c. Prices and output. d. Inflation. Incorrect Marks for this submission: 0/1. Question 6 Marks: 1 Which person is considered part of the labor force? Choose one answer. a. A housewife that works 12 hours a day taking care of her children and cleaning her house. b. An unemployed autoworker actively looking for employment. c. A student attending college full time. d. A retired member of the armed forces collecting a pension. Correct Marks for this submission: 1/1. Question 7 Marks: 1 The Great Depression in the United States: Choose one answer.
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Was marked by hyperinflation. b. Was ended by World War I. c. Ended with a higher real GDP per capita than when it began. d. Caused real GDP to fall dramatically between 1929 and 1933. Correct Marks for this submission: 1/1. Question 8 Marks: 1 According to macroeconomists, a goal for the economy is a: Choose one answer. a. Zero unemployment rate. b. High unemployment rate. c. Steadily increasing unemployment rate. d. Low unemployment rate. Correct Marks for this submission: 1/1. Question 9 Marks: 1 A decrease in the average level of prices of goods and services is known as: Choose one answer. a. Deflation. b. A recession. c. A depression. d. Inflation. Incorrect Marks for this submission: 0/1. Question 10 Marks: 1 If the population of a country is 1,000,000 people, its labor force consists of 600,000, and 40,000 people are unemployed, the unemployment rate is: Choose one answer. a.
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This note was uploaded on 11/13/2010 for the course BUSINESS M BIS/219 taught by Professor Markbentcover during the Spring '10 term at University of Phoenix.

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101 Economic Quizes 10 - 17 - CHAPTER 10 Marks: 1 The...

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