ECON 214 exam 1 complete solutions correct answers key
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Two different versions
Version A Quiz
Question 1 Structural unemployment is:
Question 2 Which of the following equations represents the labor force participation rate?
Question 3 The concept of a price index is that:
Question 4 Use the following table to answer the questions that follow: According to the table, the labor force participation rate in this economy is equal to:
Question 5 If the relevant population is 268 million people and the number of people in the labor force is 148 million, the labor force participation rate is:
Question 6 Net exports can be defined as:
Question 7 If the goods producers buy change dramatically between years, then:
Question 8 Consider the following data to answer the questions that follow. Although countries C and D have the same level of GDP, country C has a level of per capita GDP that is ________ times that of country D.
Question 9 A shortcoming of using real GDP as a measure of economic well¬being is that it does not measure changes in:
Question 10 A doctor receives $50,000 per month from her patients (and their insurance companies) as payment for her services. Each month she buys medical supplies for $10,000 and she pays a lab $15,000 for analyzing slides. The total contribution to GDP this month is:
Question 11 Labor force participation rates among teenagers are:
Question 12 The chained consumer price index (CPI) is a better measure of prices than the traditional CPI:
Question 13 The percent change in the overall level of prices in the economy is called:
Question 14 Goods that firms repackage with other goods for sale at a later stage are:
Question 15 An example of an intermediate good would be:
Question 16 For the the questions that follow, suppose a country has the following quarterly growth data...