AnswersHSA 26-27 EconomicsEconomic Growth

Economic Growth Answers

10 verified answers1 views
1
Free Preview

The graph shows unemployment rates in the United States in recent years.Which statement is the most accurate explanation of the information on the graph?

Question illustration
A
Unemployment rates rise and fall in predictable patterns.
B
Unemployment will never again be as high as it was in 2010.
C
The United States suffered an economic downturn starting in 2009.
D
The United States does not have to worry about unemployment.
2
Free Preview

Jim lost his job in a car assembly factory to a robot and his skills will no longer be needed. Which terms can be used to describe Jim? Select two options.cyclically unemployeddomestically unemployedfrictionally unemployedstructurally unemployedstill employedunemployed

A
cyclically unemployed
B
domestically unemployed
C
frictionally unemployed
D
structurally unemployed
E
still employed
F
unemployed
3

Which describes a factor that limits economic growth?

A
making investments
B
developing technology
C
engaging in trade
D
having low internal demand
4

This graph shows changes in GDP and the unemployment rate in the United States in recent years.In what year would someone looking for work have had the hardest time finding a job?

Question illustration
A
2008
B
2009
C
2011
D
2012
5

Economists use gross national product (GNP) to measure

A
economic output within a nation, regardless of ownership.
B
the output of foreign-owned businesses within a nation.
C
the output of a nation’s citizens, regardless of where they are.
D
any business activity taking place outside a country.
6

Which unemployment rate do most economists consider to be acceptable in the United States?

A
0 percent
B
5 percent
C
10 percent
D
20 percent
7

An increase in gross domestic product (GDP) is a sign that a country’s economy is

A
declining.
B
stagnant.
C
growing.
D
depressed.
8

The graph shows changes in GDP in the United States from 2009 to 2011.How did the contribution of the services sector to GDP change between 2009 and 2011?

Question illustration
A
It rose by less than 1 percent.
B
It fell significantly.
C
It rose significantly.
D
It stayed exactly the same.
9

Rabia does not currently have a job, but declined a job offer because she feels her skills merit better pay and a better position. Which terms can be used to describe Rabia? Select two options.cyclically unemployeddomestically unemployedfrictionally unemployedstructurally unemployedstill employedunemployed

A
cyclically unemployed
B
domestically unemployed
C
frictionally unemployed
D
structurally unemployed
E
still employed
F
unemployed
10

Economic growth takes place when a country

A
produces a steady number of automobiles.
B
has a high unemployment rate.
C
measures its gross domestic product (GDP).
D
produces more goods and services.
11

Which unemployment rate do most economists consider to be acceptable in the United States?

A
0 percent
B
5 percent
C
10 percent
D
20 percent
12

Sometimes an economy cannot grow because of external factors, such as

A
lack of skilled labor.
B
poor infrastructure.
C
low domestic demand.
D
low demand for exports.
13

Rabia does not currently have a job, but declined a job offer because she feels her skills merit better pay and a better position. Which terms can be used to describe Rabia? Select two options.

A
cyclically unemployed
B
domestically unemployed
C
frictionally unemployed
D
structurally unemployed
E
still employed
F
unemployed
14

Jim lost his job in a car assembly factory to a robot and his skills will no longer be needed. Which terms can be used to describe Jim? Select two options.

A
cyclically unemployed
B
domestically unemployed
C
frictionally unemployed
D
structurally unemployed
E
still employed
F
unemployed
15

The graph shows changes in GDP in the United States from 2009 to 2011.How did the contribution of the services sector to GDP change between 2009 and 2011?

Question illustration
A
It rose by less than 1 percent.
B
It fell significantly.
C
It rose significantly.
D
It stayed exactly the same.
16

This circle graph shows historical information about Bolivia’s workforce. What does the graph indicate about Bolivia’s labor force in 2010?

Question illustration
A
Industry contributed to one-third of the country's total GDP.
B
Industry workers made up the smallest share of the workforce.
C
The majority of people at this time worked in agriculture.
D
The services sector provided the highest salary.
17

The graph shows data for the years 2010 through 2012.Which might be a better title for this graph?

Question illustration
A
Total Exports for the United States and China
B
Trade Between China and the United States
C
Unemployment in the United States and China
D
The History of International Trade
18

These circle graphs show information about Bolivia’s workforce and GDP.Which statement summarizes the information on these graphs?

Question illustration
A
Many Bolivians are farmers, but agriculture makes a modest contribution to the GDP.
B
Industry in Bolivia has grown faster than the labor force can supply workers.
C
Bolivia has invested large sums of money into education to encourage economic growth.
D
Bolivia must depend on agriculture to have a healthy economic future.
19

Which describes a factor that limits economic growth?

A
making investments
B
developing technology
C
engaging in trade
D
having low internal demand
20

When economists determine that a nation’s GDP has declined, they can point to this as a sign of

A
economic shrinkage.
B
economic growth.
C
low unemployment.
D
poor leadership.

Did you find these answers helpful?

More from this Course

Quiz
12 verified answers

Economic Growth

Quiz
17 verified answers

The Business Cycle

Quiz
10 verified answers

Inflation and Stagflation