Explore key economic indicators with the 'Macroeconomics Chapter 4 Measuring Output & Unemployment' quiz. Assess your understanding of GDP concepts, differences between Nominal and Real GDP, and the role of the Price Index. Essential for students of economics aiming to grasp fundamental economic measures.
Price Index
Nominal
Real GDP
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True
False
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Varies predictably between seasons.
From 1 job to another (college graduate)
Long term (past 6 months)
When it increases when the economy slows down.
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# used to balance general fluxucations of % value with the economy.
Unadjusted GDP.
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True
False
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Unemployment
Standard of Living
Labor Force
None of the Above
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True
False
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True
False
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Varies predictably between seasons.
From 1 job to another (college graduate)
Long term (past 6 months
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From 1 job to another (college graduate)
Long term (past 6 months)
When it increasses when the economy slows down.
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True
False
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Nominal
Real
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Potential GDP
Real GDP
Nominal GDP
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# used to balance general fluxucations of % value with the economy.
Unadjusted GDP.
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Yah!
Nah...
That sounds about right..?
Where are the drinks.
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Output Gap
Input Gap
Baby Gap
Potential GDP
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From 1 job to another (college graduate)
Long term (past 6 months)
When it increasses when the economy slows down.
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True
False
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Increased
Decreased
Unchanged
None of the above
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Aggregate Consumption (all goods)
Aggreate Investment (to build businesse/machines)
Governmental Purchases
Imports
Exports
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Recession -> decrease in output
Recesstion -> increase in output
1% increase of unemployment= 2 % -output gap
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Measuring Quality changes
Measuring Service Output
Measuring nonmarket Goods
Measuring Quality Output
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