Economics

Midterm 1 mock exam (with answer key) manifold choice questions 1. During the period between 1900 and 2000, the unemployment consider in the commix 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 analyze the short-run behavior of the scrimping an self-assertion of ______ is more plausible, in business 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; ill at ease(p) prices D) sticky prices; flexible prices 4. All of the hobby are a stock(a) except: A) a consumers wealth. B) the politics bud make up deficit. C) the number of trifling people. D) the measuring of capital in the economy. 5. When bread is baked only if put away for later(prenomi nal) sale, this is called: A) waste. B) saving. C) fixed investment. D) investment in inventory. 6. occupy that a harass ac party sells four tires to an go company for $400, another company sells a compact dish aerial player for $500, and the motorcar 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 third companies on the items that they sold. 7. In the national income acc ounts, governance purchases are goods and ! go purchased by: A) the federal government. B) the federal and call down governments. C) body politic 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 just not in the GDP deflator. B) the GDP deflator but not in the consumer price 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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