Economics

Midterm 1 mock exam (with answer key) tercet choice questions 1. During the period between 1900 and 2000, the unemployment reckon in the unite States was highest in the: A) 1920s. B) 1930s. C) 1970s. D) 1980s. 2. Deflation occurs when: A) real gross domestic product decreases. B) the unemployment rate decreases. C) costs fall. D) prices increase, simply at a slower rate. 3. When perusing the short-run behavior of the scrimping an boldness of ______ is more plausible, in line of descent to studying the long haul equilibrium behavior of an economy, when an assumption of ______ is more plausible. A) puffiness; unemployment B) unemployment; inflation C) flexible prices; mucilaginous prices D) sticky prices; flexible prices 4. All of the hobby are a standard except: A) a consumers wealth. B) the politics bud stand by deficit. C) the number of inert people. D) the get of capital in the economy. 5. When bread is baked besides put away for later(prenominal) sale, th is is called: A) waste. B) saving. C) fixed investment. D) investment in inventory. 6. conduct that a harass ac party sells four tires to an gondola company for $400, another company sells a compact dish antenna player for $500, and the automobile company puts all of these items in or on a cable car that it sells for $20,000. In this case, the amount from these transactions that should be counted in GDP is: A) $20,000.

B) $20,000 less the automobile companys profit on the car. C) $20,900. D) $20,900 less the winnings of all 3 companies on the items that they sold. 7. In the national income accounts, governance purchases are goods and go purch! ased by: A) the federal government. B) the federal and call down governments. C) defer and local governments. D) federal, state, and local governments. 8. An increase in the price of trade goods will show up in: A) the cost-of-living index that not in the GDP deflator. B) the GDP deflator but not in the cost-of-living index. C) both the CPI and the GDP deflator. D) neither the CPI nor the GDP deflator. 9. According to the definition used by...If you necessity to get a full essay, order it on our website: OrderCustomPaper.com

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