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Gdp Quiz 4 (25 MCQs)

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1. Assume the MPC is 2/3. If investment spending increases by $ 2 billion, the level of GDP will increase by:
2. The unemployment rate does not account for which two types of people?
3. The value of output produced by a country's citizens regardless of where the output is.
4. Consumption expenditures are defined as spending on goods and services by
5. If the Nominal interest rate was 12% and inflation was 3%; what was the real interest rate?
6. The term discouraged worker implies
7. If a company lays off workers when the business cycle is going up (the economy is booming), what kinds of goods to this company most likely produce?
8. If the GDP deflator is equal to 105, it means that _____
9. Something you can see and feel.
10. A Japanese automobile assembled in the United States counts towards _____
11. What does real GDP mean?
12. It deals with the economic behavior of the whole economy
13. Which country is at the top of the 'World Happiness Report' rankings?
14. The production of durable goods varies more than the production of nondurable goods because:
15. In this phase of the business cycle, GDP grows and unemployment shrinks.
16. Which of the following is not a type of unemployment?
17. All of the following flow among households, businesses, and the government in American economy EXCEPT:
18. Cyclical unemployment results from:
19. If a nation's GDP is declining and the inflation rate is 10 percent a year, than the country is most likely experiencing
20. When high unemployment is combined with high inflation
21. Which national income measurement approach aggregates spending on goods and services?
22. Which is MOST likely to be in a country with a high literacy rate?
23. Remember:there are four "pieces" of GDP:C, I, G, Nx.If you spend $ 20, 000 on a vehicle, which piece are you affecting?
24. Which of the following would be included in the calculation of GDP?
25. Dissaving means:
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