Economic Growth Answers

0 verified answers1 views
1
Free Preview

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
2
Free Preview

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

A
declining.
B
stagnant.
C
growing.
D
depressed.
3

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.
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

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
6

To help encourage economic growth, a country can

A
stop selling goods to other countries.
B
invest in research and development.
C
lay off unneeded workers.
D
lower requirements for education.
7

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.
8

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.
9

The map shows GDP per capita in the United States for a given year.What conclusion can someone draw from the map?

Question illustration
A
States with the highest per capita GDP tend to be in the South.
B
Alaska has the lowest per capita GDP of any state.
C
States with the lowest per capita GDP tend to be in the South.
D
Florida has a higher per capita GDP than New York.
10

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

Did you find these answers helpful?