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Fiscal Policy Part 4
Test Description: Continuation of pr 1,2, and 3
Instructions: Answer all questions to get your test result.
1) What is the difference between real GDP and nominal GDP?
A
whether only sales in some states are included
B
whether GDP has been adjusted for inflation
C
whether GDP is divided by population
D
whether sales outside the US are included
2) Which would NOT be included in GDP?
A
The Secret Garden Day Care Service
B
nails and a pedicure at Nails R US
C
a cake from Kroger
D
Garage sale furniture
3) What is GDP per capita?
A
GDP adjusted by population
B
GDP divided by population
C
items and servies multiplied by their current prices
D
GDP divided by the number of sales
4) Why are unemployment rates deceiving?
A
they don't always include cyclical unemployment
B
they don't include nonactive job seekers and underemployed workers
C
they don't include worker in service industries
D
they don't include government workers out of work
5) Which type of unemployment is caused when a entire industry fails?
A
frictional
B
seasonal
C
cyclical
D
structural
6) Which type of unemployment is caused by a recession?
A
srtuctural
B
frictional
C
cyclical
D
seasonal
7) Which type of unemployment is caused by workers leaving their job in order to get a better job?
A
cyclical
B
frictional
C
seasonal
D
structural
8) Which type of unemployment is caused by weather changes?
A
structural
B
cyclical
C
frictional
D
seasonal
9) Inflation is a good thing.
A
True
B
False
10) Efficiency leads to
A
high inflation
B
economic growth
C
unemployment
*select an answer for all questions
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