Government expenditures for social security and unemployment insurance are, for GDP accounting purposes, considered ________.
A. government purchases, and are not included in government spending as part of GDP
B. transfer payments, and are not included in government spending as part of GDP
C. transfer payments, and are included in government spending as part of GDP
D. government purchases, and are included in government spending as part of GDP
Answer: B
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What are some criticisms of the CPI as a measure of inflation?
Empirical work that does not account for differences in the productivity of workers
a. is unlikely to find evidence of wage differentials. b. can provide strong evidence of labor market discrimination. c. is likely to misinterpret apparent evidence of labor market discrimination. d. is accepted as superior to empirical work that does correct for differences in productivity of workers.
Which of the following is NOT a communication pattern?
a. chain b. circle c. wheel d. arc
Find the size of the civilian labor force from the following data: frictional unemployment = 150, structural unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully employed workers = 850, total population = 2,000.
A. 1,425 B. 1,450 C. 1,500 D. 2,000