Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Daytona State College - ACG 2022 Chapter 5 quiz 1)An economic recovery that produces too few jobs to significantly reduce the unemployment rate is known as a(n): Question 1 options: a)  recession

Daytona State College - ACG 2022 Chapter 5 quiz 1)An economic recovery that produces too few jobs to significantly reduce the unemployment rate is known as a(n): Question 1 options: a)  recession

Economics

Daytona State College - ACG 2022

Chapter 5 quiz

1)An economic recovery that produces too few jobs to significantly reduce the unemployment rate is known as a(n):

Question 1 options:

a) 

recession.

b) 

unemployment trap.

c) 

microeconomic problem.

d) 

jobless recovery.

 

Question 2 

 

Macroeconomics was developed to explain:

Question 2 options:

a) 

jobless recoveries.

b) 

the Industrial Revolution.

c) 

the Internet boom.

d) 

the Great Depression.

 

Question 3 

 

A business cycle is:

Question 3 options:

a) 

a period lasting about 50 years.

b) 

identical to the consumption life cycle.

c) 

the periodic fluctuation of economic activity.

d) 

the engine of economic growth.

 

Question 4 

 

During a typical economic recovery:

Question 4 options:

a) 

incomes fall.

b) 

people become pessimistic.

c) 

inflation drops.

d) 

unemployment drops.

 

Question 5 

 

The National Bureau of Economic Research:

Question 5 options:

a) 

is a nonprofit research organization that dates business cycles in the United States.

b) 

is a nonprofit research organization that only determines when recessions begin.

c) 

consists of elected officials from the U.S. Senate.

d) 

is a government agency that dates business cycles in the United States.

 

Question 6 

 

The National Activity Index:

Question 6 options:

a) 

is a weighted average of 85 indicators of national economic activity.

b) 

is produced by the NBER.

c) 

is a measure of unemployment and participation in the labor force.

d) 

is a weighted average of estimates of economic activity by the National Bureau of Economic Research (NBER) and the Bureau of Economic Activity (BEA).

 

Question 7 

 

Which organization determines the beginning and end dates of a recession?

Question 7 options:

a) 

the Federal Reserve Board of Governors

b) 

the U.S. Treasury Department

c) 

the National Bureau of Economic Research

d) 

the Council of Economic Advisers

 

Question 8 

 

The national income and product accounts do all of the following EXCEPT:

Question 8 options:

a) 

compare U.S. income and output to that of other nations.

b) 

let economists judge our nation's economic performance.

c) 

track changes in income distribution.

d) 

track the economy's condition over the course of the business cycle.

 

Question 9 

 

The two approaches used by government in estimating GDP are:

Question 9 options:

a) 

expenditure and income.

b) 

survey and nonsurvey.

c) 

statistical and nonstatistical.

d) 

income and earnings.

 

Question 10 

 

Gross domestic product is the total market value of all:

Question 10 options:

a) 

final goods and services sold in the United States.

b) 

intermediate goods produced in the United States by labor and property.

c) 

final goods and services produced in the United States by labor and property.

d) 

final and intermediate goods and services produced in the United States by labor and property.

 

Question 11 

 

Expenditures by individuals for durable goods, nondurable goods, and services is known as:

Question 11 options:

a) 

personal calculated expenditure.

b) 

total spending.

c) 

personal computed expenditure.

d) 

personal consumption expenditure.

 

Question 12 

 

Investment in structures, equipment, software, and net inventory is known as:

Question 12 options:

a) 

gross private domestic investment.

b) 

net business spending.

c) 

total business spending.

d) 

net investment in durables.

 

Question 13 

 

Services constitute approximately ______ of GDP.

Question 13 options:

a) 

25%

b) 

10%

c) 

70%

d) 

50%

 

Question 14 

 

What does M represent in the following formula? GDP = C + I + G + (X – M)

Question 14 options:

a) 

government spending

b) 

personal consumer spending

c) 

imports

d) 

exports

 

Question 15 

 

The expenditure category that accounts for the largest share of GDP is:

Question 15 options:

a) 

gross private domestic investment.

b) 

net exports.

c) 

personal consumption expenditures.

d) 

government purchases of goods and services.

 

Question 16 

 

What does the X represent in the following formula, used to calculate GDP?
GDP = C + I + G + (X – M)

Question 16 options:

a) 

government spending

b) 

exports

c) 

net exports

d) 

imports

 

Question 17 

 

_____ are almost 70% of GDP, while _____ are about 15% of GDP.

Question 17 options:

a) 

Government expenditures; net exports

b) 

Personal consumption expenditures; gross private domestic investments

c) 

Government expenditures; gross private domestic investments

d) 

Personal consumption expenditures; government expenditures

 

Question 18 

 

Which of the following describes the informal economy?

Question 18 options:

a) 

It is largely unmeasured.

b) 

It does not include transactions dealing with illegal goods and services.

c) 

It does not include income earned by undocumented residents.

d) 

It is around 20% of U.S. GDP.

 

Question 19 

 

Which equation summarizes the expenditures approach to measuring GDP?

Question 19 options:

a) 

GDP = C + I + G + (X – M)

b) 

Y = C + S

c) 

total spending = total income

d) 

GDP = net domestic product + depreciation

 

Question 20 

 

The three types of consumption are:

Question 20 options:

a) 

investments, nondurables, and services.

b) 

compulsive, impulsive, and deliberate.

c) 

durables, nondurables, and services.

d) 

investments, durables, and services.

 

 

Option 1

Low Cost Option
Download this past answer in few clicks

4.83 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE

Related Questions