Quiz%209 - Econ 210 Quiz 9 Name: _ 1. a. b. c. d. 2. a. b....

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Econ 210 – Quiz 9 Name: ____________________________________ 1. Unemployment that results from changes in the composition of goods and services produced within an economy is known as : a. Frictional unemployment b. Structural unemployment c. Cyclical unemployment d. Countercyclical unemployment 2. Which of the following statements is false ? a. Consumer Price index does not account for the fact that people substitute for cheaper products in times of inflation b. GDP deflator measures the average change in prices of goods and services that make up the gross domestic product c. Inflation has costs to society only when it is unanticipated d. Debtors are negatively affected if actual inflation turns out to be higher than anticipated Information for the following four questions: Suppose, in a small economy only Ice cream, computers, Tractors and Pencils are produced and consumed. The following table summarizes the quantities and the market values of these goods in years 2009 and 2010. Goods
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Quiz%209 - Econ 210 Quiz 9 Name: _ 1. a. b. c. d. 2. a. b....

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