7 True or False.docx
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7 True or False.docx
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7TrueorFalse
Chapter21
7TrueorFalse
1)WhenIBM,anAmericanfirm,producescomputerchipsinanothercountry,thisproductionisnotincludedinU.S.GDPbecausetheproductiondidnottakeplaceintheUnitedStates.
Answer:
TRUE
Topic:
GrossDomesticProduct
Skill:
Conceptual
AACSB:
ReflectiveThinking
2)Thecircularflowdiagramshowsthattheflowofpaymentstothefactorsusedtoproducegoodsandservicesexceedstheflowofpaymentsforfinalgoodsandservices.
Answer:
FALSE
Topic:
CircularFlow
Skill:
Conceptual
AACSB:
ReflectiveThinking
3)ThecircularflowdiagramshowsonlytheaggregateexpendituresmeasureofGDP.
Answer:
FALSE
Topic:
CircularFlow,AggregateExpenditures
Skill:
Conceptual
AACSB:
ReflectiveThinking
4)Thecircularflowshowsthataggregatespendingisthanaggregateincomebecausepeoplesave.
Answer:
FALSE
Topic:
ExpenditureEqualsIncome
Skill:
Conceptual
AACSB:
ReflectiveThinking
5)Whengrossinvestmentisgreaterthandepreciation,thenthenation'scapitalstockincreased.
Answer:
TRUE
Topic:
CapitalandInvestment
Skill:
Analytical
AACSB:
ReflectiveThinking
6)Netinvestmentequalsgrossinvestmentminusdepreciation.
Answer:
TRUE
Topic:
NetInvestment
Skill:
Recognition
AACSB:
ReflectiveThinking
7)Ifdepreciationexceedsgrossinvestment,netinvestmentisnegative.
Answer:
TRUE
Topic:
NetInvestment
Skill:
Conceptual
AACSB:
ReflectiveThinking
8)TheexpenditureapproachtomeasuringGDPincludesfirms'spendingonwages.
Answer:
FALSE
Topic:
ExpenditureApproach
Skill:
Recognition
AACSB:
ReflectiveThinking
9)IntermediategoodsandservicesareoneofthelargestcomponentsoftheexpenditureapproachtomeasuringGDP.
Answer:
FALSE
Topic:
ExpenditureApproach
Skill:
Recognition
AACSB:
ReflectiveThinking
10)TocalculateGDPusingtheexpenditureapproach,inpartitisnecessarytoaddexportsandsubtractimports.
Answer:
TRUE
Topic:
ExpenditureApproach,NetExports
Skill:
Recognition
AACSB:
ReflectiveThinking
11)TocalculateGDPwhenusingtheincomeapproach,youmustaddindirectbusinesstaxesanddepreciation.
Answer:
TRUE
Topic:
IncomeApproach
Skill:
Conceptual
AACSB:
ReflectiveThinking
12)Thelargestcomponentofincomeisproprietors'income.
Answer:
FALSE
Topic:
IncomeApproach,CompensationofEmployees
Skill:
Recognition
AACSB:
ReflectiveThinking
13)Aproductivitygrowthslowdowncanbeshownasyear-to-yearfluctuationsofrealGDParoundpotentialGDP.
Answer:
FALSE
Topic:
ProductivityGrowthSlowdown
Skill:
Conceptual
AACSB:
ReflectiveThinking
14)RealGDPfluctuatesfromyeartoyearbutisalwaysbelowpotentialGDP.
Answer:
FALSE
Topic:
RealandPotentialGDP
Skill:
Recognition
AACSB:
ReflectiveThinking
15)Abusinesscycleisthepatternofshort-runupwardanddownwardmovementsinproductionandjobs.
Answer:
TRUE
Topic:
BusinessCycle
Skill:
Recognition
AACSB:
ReflectiveThinking
16)Phasesandturningpointsofthebusinesscycleareexpansion,peak,recessionandtrough.
Answer:
TRUE
Topic:
BusinessCycle
Skill:
Recognition
AACSB:
ReflectiveThinking
17)Thebusinesscycleprogressesfromanexpansiontoapeaktoarecessionandthentoatrough.
Answer:
TRUE
Topic:
BusinessCycle
Skill:
Recognition
AACSB:
ReflectiveThinking
18)ArecessionoccurswhenrealGDPdecreasesforatleast6months.
Answer:
TRUE
Topic:
BusinessCycle
Skill:
Recognition
AACSB:
ReflectiveThinking
19)Anexpansionendswhentheeconomyhitsatroughandthenentersarecession.
Answer:
FALSE
Topic:
BusinessCycle
Skill:
Recognition
AACSB:
ReflectiveThinking
20)Tomeasureeconomicwelfare,oneneedsonlytomeasurerealGDP.
Answer:
FALSE
Topic:
EconomicWelfare
Skill:
Conceptual
AACSB:
ReflectiveThinking
21)Theomissionofhouseholdproductioncausesactualeconomicproductiontobeunderestimated.
Answer:
TRUE
Topic:
GDPandHouseholdProduction
Skill:
Conceptual
AACSB:
ReflectiveThinking
22)HouseholdproductionisnotmeasuredintheGDP.
Answer:
TRUE
Topic:
HouseholdProduction
Skill:
Recognition
AACSB:
ReflectiveThinking
23)Alleconomicactivityintheundergroundeconomyrepresentstheproductionofillegalgoodsandservices.
Answer:
FALSE
Topic:
GDPandUndergroundEconomicActivity
Skill:
Recognition
AACSB:
ReflectiveThinking
24)TheundergroundeconomymeansthatGDPwilloverstatetheactuallevelofeconomicwelfare.
Answer:
FALSE
Topic:
GDPandUndergroundEconomicActivity
Skill:
Conceptual
AACSB:
ReflectiveThinking
25)IfameasureofrealGDPcouldincludethevalueofleisuretime,measuredrealGDPwouldincrease.
Answer:
TRUE
Topic:
GDPandLeisureTime
Skill:
Conceptual
AACSB:
ReflectiveThinking
26)ThefactthatpricesforsimilargoodsdifferacrossnationscomplicatescomparisonsofrealGDPacrosscountries.
Answer:
TRUE
Topic:
GDPandPurchasingPowerParityPrices
Skill:
Conceptual
AACSB:
ReflectiveThinking
Chapter22
7TrueorFalse
1)Theworking-agepopulationisdividedbetweenthosepeopleinthelaborforceandthosepeopleunemployed.
Answer:
FALSE
Topic:
PopulationSurvey
Skill:
Recognition
AACSB:
ReflectiveThinking
2)Onewaytobeconsideredunemployedistobewithoutajobandlookingforwork.
Answer:
TRUE
Topic:
PopulationSurvey
Skill:
Recognition
AACSB:
ReflectiveThinking
3)Thelaborforceisthesumoftheworking-agepopulationandthenumberofunemployedpeople.
Answer:
FALSE
Topic:
PopulationSurvey
Skill:
Conceptual
AACSB:
ReflectiveThinking
4)Theunemploymentrateequals[(thenumberofpeopleunemployed)/(thepopulation)]×100.
Answer:
FALSE
Topic:
UnemploymentRate
Skill:
Recognition
AACSB:
ReflectiveThinking
5)Theunemploymentratemeasuresthepercentageoftheworking-agepopulationwhocan'tfindajob.
Answer:
FALSE
Topic:
UnemploymentRate
Skill:
Conceptual
AACSB:
ReflectiveThinking
6)Theunemploymentratemeasuresthepercentageofpeopleinthelaborforcewhocan'tfindajob.
Answer:
TRUE
Topic:
UnemploymentRate
Skill:
Conceptual
AACSB:
ReflectiveThinking
7)Aggregatehourshasanupwardtrendoverthelast30years.
Answer:
TRUE
Topic:
AggregateHours
Skill:
Recognition
AACSB:
ReflectiveThinking
8)Ifaggregatehoursworkedgrowsmoreslowlythanthenumberofpeopleemployedthenpeopleareworkingfewerhoursonaverage.
Answer:
TRUE
Topic:
AggregateHours
Skill:
Conceptual
AACSB:
ReflectiveThinking
9)Thenumberofjobleaversvariesquiteabitoverbusinesscycle.
Answer:
FALSE
Topic:
TheSourcesofUnemployment
Skill:
Conceptual
AACSB:
ReflectiveThinking
10)Thedurationofunemploymentislongwhentheunemploymentrateislow.
Answer:
FALSE
Topic:
DurationofUnemployment
Skill:
Conceptual
AACSB:
ReflectiveThinking
11)Teenageunemploymentishighbecauseteenagersaremorelikelytoleavetheirjobsandmorelikelytolosetheirjobs.
Answer:
TRUE
Topic:
DemographicsofUnemployment
Skill:
Recognition
AACSB:
ReflectiveThinking
12)Unlikecyclicalunemployment,bothfrictionalandstructuralunemploymentriseduringrecessionsandfallduringexpansions.
Answer:
FALSE
Topic:
TypesofUnemployment
Skill:
Conceptual
AACSB:
ReflectiveThinking
13)Frictional,structuralandcyclicalunemploymentarethreeclassificationsofunemployment.
Answer:
TRUE
Topic:
TypesofUnemployment
Skill:
Recognition
AACSB:
ReflectiveThinking
14)Ifaworkeristemporarilylaidoffbecausetheeconomyisinarecession,frictionalunemploymentincreases.
Answer:
FALSE
Topic:
FrictionalUnemployment
Skill:
Conceptual
AACSB:
ReflectiveThinking
15)Structuralunemploymentusuallylastslongerthanfrictionalunemployment.
Answer:
TRUE
Topic:
StructuralUnemployment
Skill:
Conceptual
AACSB:
ReflectiveThinking
16)Whentheeconomyisatfullemploymenttheunemploymentrateequalsthenaturalunemploymentrate.
Answer:
TRUE
Topic:
FullEmployment
Skill:
Recognition
AACSB:
ReflectiveThinking
17)Theabsenceofcyclicalunemploymentmeanstheeconomyisatthenaturalunemploymentrate.
Answer:
TRUE
Topic:
NaturalUnemploymentRate
Skill:
Conceptual
AACSB:
ReflectiveThinking
18)Thenaturalunemploymentrateincreasedsignificantlyduringthe1980sandthe1990s.
Answer:
FALSE
Topic:
ExplainingEmploymentandWageRates
Skill:
Recognition
AACSB:
ReflectiveThinking
19)TheCPIistheaveragepriceofallgoodsandservicesproducedwithintheeconomy.
Answer:
FALSE
Topic:
ConsumerPriceIndex
Skill:
Recognition
AACSB:
ReflectiveThinking
20)Thecommoditysubstitutionbiasisthatconsumerssubstitutehigh-qualitygoodsforlow-qualitygoods.
Answer:
FALSE
Topic:
CommoditySubstitutionBias
Skill:
Recognition
AACSB:
ReflectiveThinking
Chapter23
TrueorFalse
1)Economistsareinterestedinlong-termeconomicgrowthbecausegrowthincreasesrealGDPperpersonandimprovesourstandardofliving.
Answer:
TRUE
Topic:
EconomicGrowth
Skill:
Recognition
AACSB:
ReflectiveThinking
2)Overthelast100years,realGDPperpersonintheUnitedStateshasgrownatanaveragerateofapproximately2percentperyear.
Answer:
TRUE
Topic:
GrowthintheU.S.Economy
Skill:
Recognition
AACSB:
ReflectiveThinking
3)TheUnitedStatesexperiencedaslowdownineconomicgrowthduringwhichofthefollowingtimeperiods?
A)1973—1983
B)1960’s
C)late1990’s
D)1920’s
Answer:
A
Topic:
GrowthintheU.S.Economy
Skill:
Recognition
AACSB:
ReflectiveThinking
4)TheUnitedStateshadthelargestofrealGDPperpersonuntilthe1990swhentheJapan'srealGDPperpersonovertookandthenexceededthatintheUnitedStates.
Answer:
FALSE
Topic:
RealGDPGrowthintheWorldEconomy
Skill:
Recognition
AACSB:
ReflectiveThinking
5)BecausetheUnitedStatesisadevelopedeconomy,everyothercountryiscatchinguptothelevelof
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- 关 键 词:
- True or False