Chapter 10 Measuring a Nation's Income 1. Gross Domestic Product measures: a. the total income in the economy, but not the total expenditure on the economy's output. b. the total expenditure on the economy's output, but not the total income in the economy
Chapter 11 Measuring the Cost of Living 1. To fix the basket for the CPI, the Bureau of Labor Statistics: a. sets up a committee that decides, based on its own experience, what items will be in the basket. b. reviews the things produced in our economy and
Chapter 15 Unemployment 1. The Bureau of Labor Statistics measures unemployment by: a. surveying firms and asking them how many workers they have hired and fired each month. b. reviewing claims for unemployment benefits. c. surveying households. d. review
