Last Updated 28 Jan 2021

Week 5 Quizzes – Eco/Gm 561

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Week 5 Quizzes ECO/GM 561

Your Results for: "Readiness Assessment Quiz"Print this page Site

Title:Economics UOP custom CW Book Title:UOP-custom course for Economics Book

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Author:Case Summary of Results 100% Correct of 7

Scored items: 7

Correct: 100% 0

Incorrect: 0% More information about scoring

  1. GDP includes all transactions in which money or goods change hands. Your Answer:False
  2. GDP is equal to the value of total sales in an economy. Your Answer:False
  3. I bought a record last year. I don't like it any more and am going to sell it to my cousin for $2. This sale should be included in GDP. Your Answer:False
  4. Consumption, investment, government purchases, and net exports are the four components of total expenditures. Your Answer:True
  5. Households have all of their personal income to spend or save. Your Answer:False
  6. When economists calculate nominal GDP it means they are calculating GDP only approximately. Your Answer:False
  7. Per capital GDP is a country's GDP divided by its population. Your Answer:True

Your Results for: "Readiness Assessment Quiz"

Title:Economics UOP custom

CW Book Title:UOP-custom course for Economics Summary of Results 100%

Correct of 8 Scored items: 8

Correct: 100% 0

Incorrect: 0% More information about scoring

  1. The twin evils of macroeconomics are unemployment and inflation. Your Answer:True
  2. Recessions last six months. Anything longer is called a depression. Your Answer:False
  3. To be considered employed a person must be working for pay for at least 20 hours per week. Your Answer:False
  4. You need to be 14 years old to be considered part of the labor force. Your Answer:False
  5. A discouraged worker is not actually working. Your Answer:True
  6. People typically are unemployed for at least six months. Your Answer:False
  7. Recessions have a good side to them because they help reduce inflation. Your Answer:True
  8. The consumer price index is based on a bundle of goods and services purchased yearly by the typical urban consumer. Your Answer:False

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Explore how the human body functions as one unit in harmony in order to life

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