ECN 211 TEST QUESTIONS WITH 100% CORRECT ANSWERS
Which of the following would be included in the computation of GDP in a particular year?
a. Government expenditure on national defense
b. An increase in imported goods.
c. Distribution of food stamps to recipients. - Answer- a. Government ex...
Which of the following would be included in the computation of GDP in a particular
year?
a. Government expenditure on national defense
b. An increase in imported goods.
c. Distribution of food stamps to recipients. - Answer- a. Government expenditure on
national defense
Which component of spending has steadily gained over the past fifty years? - Answer-
Services
When calculating GDP, investment refers to the.. - Answer- purchase of new capital
goods like real estate, equipment, and inventories.
Which of the following would fall in the Investment component of GDP? - Answer- The
amount spent on new factories
Which of the following is included in GDP calculations? - Answer- The university tution
paid to enroll in a course.
Net National Product is GDP - Answer- minus depreciation
unemployment rate - Answer- = Unemployed people/ Total labor force × 100
Calculate the unemployment rate based on the following data for a country: Population:
200, Employed workers: 140, Labor Force: 160, Discouraged workers: 10... - Answer-
12.5%
If out of 125 people in the labor force, the number of employed workers is 100 and
number of unemployed workers is 25, then the unemployment rate is.. - Answer- 20%
To find unemployment, you need to calculate - Answer- The number of unemployed
workers divided by the labor force
Some critics of the unemployment rate say that it under-reports the actual
unemployment problem by: - Answer- considering discouraged workers to be out of the
labor force
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