Question 1. GDP is defined as (Points : 1)

1. GDP is defined as (Points : 1)
the market value of all goods and services produced and nonmarket activities that take place in a one-year time period.
the value of all capital goods produced in a given time period.
the final sales of goods and services produced in a given time period.
NNP less CCA.
the total value of consumer spending in a given time period.

Question 2. 2. Which of the following will NOT result in an increase in measured unemployment, ceteris paribus? (Points : 1)
an increase in the labor force participation rate
an increase in the number of discouraged workers
a recession
extending the period for which one can collect unemployment benefits

Question 3. 3. Policies to reduce fluctuations in output and employment are called (Points : 1)
intergovernmental policies.
stabilization policies.
incomes policies.
production policies.
recession policies.

Question 4. 4. A country is in a recession if (Points : 1)
nominal output declines for two successive quarters.
real output declines for two successive quarters.
unemployment rises in two successive quarters.
the price level falls in two successive quarters.
the Dow Jones Index declines by more than 10 percent.

Question 5. 5. Economic growth is the result of (Points : 1)
falling prices.
more pollution.
less population.
additional resources and advances in technology.
a decrease in the money supply.?

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