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Which way Which way Does a SupplyDoes a SupplyCurve Shift?Curve Shift? GraphsGraphs
UnemploymentUnemployment GDP RandomRandomWhich way Which way
Does a demandDoes a demandCurve shift?Curve shift?
- $200
What is the unemployment that arises from the effects of frictional and structural unemployment?
Natural Rate of Unemployment
- $300
What is the name of the unemployment that results from their being more people seeking for jobs than there are jobs available?
Structural Unemployment
- $400
What is the type of unemployment that is the result of economic downturns?
Cyclical unemployment
- $500
What type of unemployment is due to the time workers spend in job search?
Frictional Unemployment
- $100
What is the monetary value of all final goods and services produced within a country’s borders in one year?
GDP
- $200
What are the four components of GDP?
Consumer spending, investments, government spending and net exports
- $300
Nominal GDP
What kind of GDP is the total goods and services produced in the economy during a given year, calculated with the prices current in the year in which output is produced?
- $400
What is the GDP Deflator?
For a given year is 100 times the ratio of Nominal GDP to the Real GDP in that year.
- $500
What three things are not included in GDP?
Non-market (Illegal) activities, Nonproduction transactions and Intermediate goods
- $200
What is the name of a market place for the exchange of labor, capital and raw materials?
Resource Market
- $400
What is the term used for the measure of the cost of the final market basket of a typical urban American family?
Consumer price index