Labor, capital, and potential GDP.
Labor, capital, and households.
Labor, capital, and technology.
Labor, capital, and markets
Labor, capital, and government.
The amount paid in the final sale of a product or service
The amount subtracted from the value of resources because of depreciation.
The amount subtracted from the value of goods because of inflation
The increase in the value of a product that occurs at each stage of production.
The total value of all intermediate goods used in the production of the final good.
Is not related to the level of real GDP.
Increases as real GDP decreases.
Decreases as real GDP decreases.
Increases as real GDP increases.
. increases only if real GDP is below potential.
Increase by $40,000
Increase by $25,000.
Increase by $15,000.
Increase by $10,000.
Decrease by $10,000.
If inventories increase in a given year, they should be added in when calculating GDP.
You buy a new bed that was produced last year. GDP will increase this year by the value of the bed because the bed was sold this year.
. U. S. GDP includes the value of goods and services produced by U.S. citizens abroad.
You sell your used calculus book to your friend. This transaction will count in GDP.
Only individuals 16 years of age or older who are actually at work during a given week.
The employed 16 years of age or older plus the unemployed who are actively seeking jobs.
All civilians over the age of 16 and who are not in an institution
All of the above.
Business cycle fluctuations
Recurring changes in the hiring of certain industries
Short term movement of workers between jobs
Job search for first-time job seekers
Technological change or permanent changes in industry demand
Frictional and cyclical
Structural and frictional
Cyclical and structural
Frictional, structural, and cyclical
A recent college graduate still looking for her first job
A car salesman who loses her job because of a recession
A ski instructor who is out of work for the summer
An economics journalist who just quit her writing job in order to begin a new career as a college professor next month
A worker displaced from her factory as a result of greater mechanization in the work place
Discouraged worker; higher
Discouraged worker; lower