AnswersEconomics - PathwaysEconomic Growth

Inflation and Stagflation Answers

10 verified answers
1
Free Preview

Jim lost his job in a car assembly factory to a robot and his skills will no longer be needed. Which terms can be used to describe Jim? Select two options.cyclically unemployeddomestically unemployedfrictionally unemployedstructurally unemployedstill employedunemployed

A
cyclically unemployed
B
domestically unemployed
C
frictionally unemployed
D
structurally unemployed
E
still employed
F
unemployed
2
Free Preview

This circle graph shows historical information about Bolivia’s workforce. What does the graph indicate about Bolivia’s labor force in 2010?

Question illustration
A
Industry contributed to one-third of the country's total GDP.
B
Industry workers made up the smallest share of the workforce.
C
The majority of people at this time worked in agriculture.
D
The services sector provided the highest salary.
3

The graph shows unemployment rates in the United States in recent years.Which statement is the most accurate explanation of the information on the graph?

Question illustration
A
Unemployment rates rise and fall in predictable patterns.
B
Unemployment will never again be as high as it was in 2010.
C
The United States suffered an economic downturn starting in 2009.
D
The United States does not have to worry about unemployment.
4

Which unemployment rate do most economists consider to be acceptable in the United States?

A
0 percent
B
5 percent
C
10 percent
D
20 percent
5

The graph shows changes in GDP in the United States from 2009 to 2011.How did the contribution of the services sector to GDP change between 2009 and 2011?

Question illustration
A
It rose by less than 1 percent.
B
It fell significantly.
C
It rose significantly.
D
It stayed exactly the same.
6

Economists use gross national product (GNP) to measure

A
economic output within a nation, regardless of ownership.
B
the output of foreign-owned businesses within a nation.
C
the output of a nation’s citizens, regardless of where they are.
D
any business activity taking place outside a country.
7

The graph shows data for the years 2010 through 2012.Which might be a better title for this graph?

Question illustration
A
Total Exports for the United States and China
B
Trade Between China and the United States
C
Unemployment in the United States and China
D
The History of International Trade
8

To help encourage economic growth, a country can

A
stop selling goods to other countries.
B
invest in research and development.
C
lay off unneeded workers.
D
lower requirements for education.
9

Economic growth takes place when a country

A
produces a steady number of automobiles.
B
has a high unemployment rate.
C
measures its gross domestic product (GDP).
D
produces more goods and services.
10

When economists determine that a nation’s GDP has declined, they can point to this as a sign of

A
economic shrinkage.
B
economic growth.
C
low unemployment.
D
poor leadership.

Did you find these answers helpful?

More from this Course

Quiz
10 verified answers

Economic Growth

Quiz
10 verified answers

Economic Growth

Quiz
10 verified answers

The Business Cycle