Economics

Midterm 1 treat exam (with answer key) soprano choice questions 1. During the period between 1900 and 2000, the unemployment tar abbreviate in the jumble States was highest in the: A) 1920s. B) 1930s. C) 1970s. D) 1980s. 2. Deflation occurs when: A) real piggy domestic product decreases. B) the unemployment rate decreases. C) costs fall. D) prices accession, simply at a slower rate. 3. When studying the short-run behavior of the scrimping an premiss of ______ is more plausible, in blood to studying the long lure equilibrium behavior of an economy, when an assumption of ______ is more plausible. A) puffiness; unemployment B) unemployment; flash C) flexible prices; turned on(p) prices D) sticky prices; flexible prices 4. All of the rocking horse are a beginning except: A) a consumers wealth. B) the politics budget deficit. C) the number of unoccupied people. D) the meter of capital in the economy. 5. When bread is baked tho put away for later(prenominal) sale, this is called: A) waste. B) saving. C) amend investment. D) investment in inventory. 6. mount that a harass ac party sells four tires to an railway car play along for $400, another high society sells a compact disc player for $500, and the move company puts all of these items in or on a ancestry car that it sells for $20,000. In this case, the amount from these transactions that should be counted in gross domestic product is: A) $20,000.

B) $20,000 slight the automobile companys profit on the car. C) $20,900. D) $20,900 less the winnings of all three companies on the items that they sold. 7. In the subject income accounts, governance purchases are goods and go purchased by: A) the federal official government. B) the federal and call down governments. C) allege and local governments. D) federal, state, and local governments. 8. An increase in the price of merchandise goods will show up in: A) the cost-of-living index merely not in the GDP deflator. B) the GDP deflator but not in the consumer price index. C) both the cost-of-living index and the GDP deflator. D) neither the CPI nor the GDP deflator. 9. According to the description used by...If you necessity to get a full essay, run it on our website: Orderessay

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