Which of the following goods is directly counted in GDP?
A) the pepperoni that Pizza Hut purchases for its pizzas
B) the cheese that Pizza Hut purchases for its pizzas
C) the large Pizza Hut pizza purchased by a family for dinner
D) the boxes that Pizza Hut purchases to box its pizzas
C
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If workers are changing jobs voluntarily and it takes a while for them to find new jobs, they are an example of
a. structural unemployment. b. frictional unemployment. c. technological unemployment. d. None of these.
Increases in __________ have been responsible for most of the economic growth in the U.S. over the last 50 years
a. imports. b. productivity. c. average hours. d. the employment-to-population ratio. e. tax revenues.
Which of the following is not a measure of how close a nation is to full employment?
a. Capacity utilization index. b. Unemployment rate. c. Employment rate. d. Net export position of the nation. e. All the above.
In the medium run, a reduction in inflation causes
A) a reduction in the opportunity cost of holding money. B) an increase in the opportunity cost of holding money. C) no change in the opportunity cost of holding money. D) individuals to switch from holding money to bonds and reduce their real money balances.