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Quiz 5&6 Broad Concepts - Statistics
General Stats
- This quiz has been taken 0 times
- The average score is 0 of 21
Answer Stats
| Hint | Answer | % Correct |
|---|---|---|
| _ measures the average change over time in the _ paid by typical urban consumers for a "market basket" of goods | CPI | 0%
|
| Unemployment type #3 - caused by business cycle recessions (e.g. layoffs during a downturn) | Cyclical | 0%
|
| GDP is imperfect because of _ quality | Environmental | 0%
|
| Approach #1 - summing all spending on final goods (net exports can be negative) | Expenditure | 0%
|
| Real interest rate ~ nominal interest rate - inflation rate | Fisher equation | 0%
|
| Unemployment type #1 - short-term, such as graduates looking for a first job | Frictional | 0%
|
| Unemployment type #4 - _ is zero, only the other two remain (the "natural rate") | Full Employment | 0%
|
| Market value of all final goods and services produced within a country in a given period | GDP | 0%
|
| Nominal vs. Real _ | GDP | 0%
|
| The _ _ measures the price level of all domestic goods | GDP Deflator | 0%
|
| GDP is imperfect because of _ production | Household | 0%
|
| Approach #2 - summing all _ earned by factors of productions. The largest component of total _ in the U.S. is wages | Income | 0%
|
| The percentage change in a price index from one year to the next | Inflation Rate | 0%
|
| Employed + unemployed | Labor Force | 0%
|
| GDP is imperfect because of _ time | Leisure | 0%
|
| Production valued at current year prices | Nominal | 0%
|
| How we adjust for inflation (purchasing power) | Ratio of CPI | 0%
|
| Production valued at base-year prices (removes the effect of inflation) | Real | 0%
|
| Unemployment type #2 - due to a persistent mismatch between worker sills and job requirements | Structural | 0%
|
| GDP is imperfect because of the _ economy | Underground | 0%
|
| Approach #3 - sum off _ _ at every stage of production | Value Added | 0%
|
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