Which of the following headlines would be related to what macro economists study
Real GDP grows by 2.3% in the second quarter
During a business cycle expansion, total production _______ and total employment ________
the total market value of final goods and sevices produced in the economy during a period of time
Directly counted in GDP
a 12 inch Subway sandwich purchased by a student
Represents the purchase of a final good
Your father buys a new John Deere riding lawn mower
Which of the following is not directly counted in GDP
In the circular flow model, the value of total production for an economy ________ final goods and services.
Which of the following is not an example of a transfer payment?
health insurance payments to an army private
The factors of production include
Investment, as defined by economists, would include the purchase of a
computer by an accounting firm
Investment, as defined by economists, would not include which of the following?
buys U.S. government bonds
The purchase by a Chinese household of a CD produced in the united states is included in U.S.
would be included in the official calculation of GDP
you buy a new ipod
A transfer payment is a payment by the government to an individual
for which the government does not receive a good or service in return
Ex- Welfare payment
In the curcular flow diagram, ______ supply the factors of production, and ______ goods and services
Which of the following equations correctly measures GDP in an economy?
GDP understates the total production of final goods and services because of the omission of
the underground economy
Bob stops working for Mary to care for the children
GDP will decrease
Nominal GDP is GDP in a given year
valued in the prices of that year
Real GDP is GDP in a given year
If the quantity of goods and services produced in the economy decreases
it may be possible for nominal GDP to increase
The total market value of final goods and services produced in the economy during a period of time
The best measure of the standard of living is
real GDP per capita
Discouraged workers are classified by the BLS as
not in the labor force
A worker experiencing cyclical unemployment?
A freightliner employee that got laid off because of the recession of 2007-2009
A worker quits his job at the post office to find more interesting work
Need essay sample on "MAcro 2"? We will write a custom essay sample specifically for you for only $ 13.90/page