Macroeconomics Bertrand Quizzes 7, 8, 9

The Bureau of Labor Statistics would categorize a retiree who is not working as employed. unemployed. a discouraged worker. out of the labor force.

The labor force equals the number of people employed. unemployed. employed plus unemployed. in the working-age population.

Total population 20,000 Working-age population 15,000 Employment 1,000 Unemployment 100 Refer to Table. The unemployment rate for this simple economy equals (100/1,000)*100 (100/1,100) × 100 (100/15,000) × 100. (100/20,000) × 100.

Total population 20,000 Working-age population 15,000 Employment 1,000 Unemployment 100 Refer to Table. The labor force participation rate for this simple economy equals (1,000/1,100) × 100. (1,000/15,000) × 100. (1,100/15,000) × 100. (1,100/20,000) × 100.

Someone who is available for work but has not actively looked for work in the previous four weeks would be classified as employed. unemployed. not in the labor force. not in the working-age population.

A full-time student who is not working is categorized as unemployed. employed. not in the labor force. a discouraged worker.

Discouraged workers are classified by the BLS as part of the labor force. out of the labor force. unemployed. employed. part-time employees.

If the number employed is 190 million, the number unemployed is 10 million, and the working-age population is 250 million, then the labor force participation rate is 4%. 5.2% 60%. 80%. No answer text provided.

A good measure of the standard of living is real GDP per capita. nominal GDP per capita. total real GDP. total nominal GDP.

If real GDP in a small country in 2012 is $8 billion and real GDP in the same country in 2013 is $8.3 billion, the growth rate of real GDP between 2012 and 2013 is 3.0%. is 3.6%. is 3.75%. cannot be determined from the info given.

If the growth rate of real GDP rises from 3% to 4% per year, then the number of years required to double real GDP will decrease from 23.3 years to 17.5 years. 28.0 years to 21.0 years. 11.2 years to 10.8 years. 23.3 years to 20.6 years.

Countries with high rates of economic growth tend to have a labor force that is more productive. a lower life expectancy at birth. low rates of technological advancement. a declining incidence of business cycle fluctuations.

The quantity of goods and services that can be produced by one worker or by one hour of work is referred to as technology. labor productivity. real GDP. human capital.

Which of the following increases labor productivity? an increase in the aggregate hours of work decreases in the availability of computers and factory buildings inventions of new machinery, equipment, or software a decline in the health of the population

The total amount of physical capital available in a country is know as the country's labor productivity. savings. investment. capital stock.

Actual real GDP will be above potential GDP if firms are producing below capacity. firms are producing at capacity. firms are producing above capacity. inflation is rising.

If real GDP per capita in Ireland is estimated to be $7,400 in 2014, what will real GDP per capita be in 2019 if real GDP per capita grows at an annual rate of 2.8%? $7,607 $8,496 $9,472 $20,720

If a country's real GDP is rising by 3% per year while its population is rising at 5% per year, which of the following is true? The country's standard of living is falling. The country's standard of living is rising. Growth in nominal GDP outweighs growth in the population. Growth in nominal GDP is less than the growth in the population.

High-income countries are also referred to as countries. developing countries. industrial countries. growing countries. agrarian

An economic growth model explains changes in real GDP per capita in the long run. how changes in the money supply affect real interest rates. changes in government tax policies over time. the growth rate of the price level over time.

Which of the following is not one of the three sources of technological change? additional amounts of existing capital better machinery and equipment increases in human capital better means of organizing and managing production

Technological improvements are more likely to occur if the economy is centrally planned. entrepreneurs are compensated with higher profits for taking risks. economic decisions are made by politicians rather than entrepreneurs. companies face little competition in their markets.

Which of the following government provisions would help increase the accumulation of knowledge capital? patents copyrights education subsidies All of the above are correct.