KAPLAN MT445 UNIT 8 QUIZ LATEST 2016 FEBRUARY
1. Question : A lumberjack loses his job because timber cutting restrictions are imposed by the EPA to protect the spotted owl habitat. This lumberjack would be
frictionally unemployed.
cyclically unemployed.
structurally unemployed.
seasonally unemployed.
Question 2. Question : The labor force equals the number of people
employed.
unemployed.
employed plus unemployed.
in the working-age population.
Question 3. Question : Suppose that at the beginning of a loan contract, the real interest rate is 4% and expected inflation is currently 6%. If actual inflation turns out to be 7% over the loan contract period, then
borrowers gain 1%.
lenders gain 1%.
borrowers lose 3%.
lenders gain 3%.
Question 4. Question : Productivity gains in the United States since 1995 have been ________ productivity gains in other leading industrial nations.
the same as
lower than
higher than
more variable than
Question 5. Question : In the United States, the annual growth rate of real GDP per hour worked between 1995 and 2006 averaged
2.3%.
6.9%.
-0.3%.
10.2%.
Question 6. Question : If real GDP in the United States is growing at an annual rate of 3.2% per capita and Bolivia's real GDP per capita is growing at a rate of 1.3%, which of the following would we expect in the long run? Assume real GDP per capita in the United States begins at a level above that of real GDP per capita in Bolivia.
Real GDP per capita in the United States will always be 1.9% higher than real GDP per capital in Bolivia.
The difference between the level of real GDP per capita in the United States and real GDP per capita in Bolivia will shrink over time.
The difference between the level of real GDP per capita in the United States and real GDP per capita in Bolivia will increase over time.
The difference between the level of real GDP per capita in the United States and real GDP per capita in Bolivia will always be $1.9 trillion.
Question 7. Question : If the consumption function is defined as C = 5,500 + .9Y, what is the autonomous level of consumption expenditure?
$5,500
$4,950
$6,111
$6,050
Question 8. Question : The difference between GDP and disposable income is
national income.
actual investment spending.
net taxes.
unplanned investment spending.
Question 9. Question : Investment spending ________ during a recession, and ________ during an expansion.
declines; increases
increases; declines
increases; increases
declines; declines
Question 10. Question : Which of the following leads to a decrease real GDP?
an increase in government spending
an increase in the inflation rate in other countries, relative to the inflation in the U.S.
an increase in interest rates
households have increasingly optimistic expectations about future income
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Rating:
5/
Solution: KAPLAN MT445 UNIT 8 QUIZ LATEST 2016 FEBRUARY