Download GDP and Unemployment

GDP and Unemployment
Practice EOCT questions
1. Gross Domestic Product is a method for
calculating how much a country produces by
adding which four spending categories?
A Consumption, Investment, Government,
Net Exports
B
Consumption, Investment, Government,
Business expenditures
C Consumption, Interest Rates, Goverment,
Net Exports
D Wages, Rent, Interest, Dividends
2. In October, Bill is laid off from his job as a
Halloween costume maker solely because of a
slow Halloween season. Which statement is
true?
A Bill is naturally unemployed.
B
Bill is cyclically unemployed.
C Bill is frictionally unemployed.
D Bill is structurally unemployed.
3. The town of Smithville recently closed the
blacksmith factory and now all of the
blacksmiths are out of work. This type of
unemployment is known as
A structural.
B
frictional.
C cyclical.
D nominal.
• Which person below would be considered
frictionally unemployed?
• A Jill, who quit her job to become a full
time student.
• B
Jake, who has recently entered the labor
force.
• C Jennifer, whose skills are no longer
needed.
• D Jimmy, whose parents shut down the
family farm
key
1.
2.
3.
4.
A
B
A
B