GDP
Are stocks and transfer payments included in GDP?
No
Which person would NOT be counted in the civilian labor force?
A: Banker who works part time job
B: Retired teacher not looking for work
C: Full time pilot working full hours
D: Police office working 40 hours a week
B: Retired teacher not looking for work
People on a fixed income are especially affected by inflation because their income stays the same while prices rise. Does inflation help or hurt them?
Hurt
What color is sonic the hedgehog?
Blue
This school’s mascot is a live tiger named Mike, who attends home football games in Louisiana.
LSU
Which type of GDP is adjusted for inflation?
Real GDP
Frictional
Which of the following is the best example of inflation?
A. The price of movie tickets rises from $10 to $12 over time
B. A store has a one-day sale on shoes
C. A student earns more money from a summer job
D. A company produces more smartphones this year
A. The price of movie tickets rises from $10 to $12 over time
Which state has the smallest population in the US?
Wyoming
What college did Michael Jordan go to?
University of North Carolina
Which of the following best describes an example of an intermediate good?
A: Courch purchased by the consumer
B: The Pizza that is purchased by the consumer
C: Pizza Sauce used to make pizza
D: Eggs purchased by the consumer
C: Pizza sauce used to make pizza
What type of unemployment occurs when technology replaces workers?
Structural
What type of inflation is caused when the cost of production rises causing prices to increase
Cost push inflation
How many matches are there in a set of tennis?
6
Besides College of Dupage, what is the #1 school the most LT students are attending next year?
Which of the following would be included in the United States’ GDP as an export?
A. A car made in Japan and purchased by a consumer in the United States
B. A television made in China and sold at a store in Texas
C. Wheat grown in Kansas and sold to a company in Mexico
D. A used bicycle sold from one American citizen to another
C: Wheat Grown in Kansas sold to a company in mexico
What type of unemployment is caused by the economy not doing well like a recession
Cyclical
What type of inflation is caused when demand rises faster than supply?
Demand-pull inflation
Before becoming famous, where did Harry Styles work?
Bakery
This school’s football fans sing “Rocky Top” and its stadium is called Neyland Stadium.
University of Tennessee
Which component of GDP is the LARGEST in the US economy?
Consumer Spending
Calculate the unemployment rate given the following information:
12.5%
The Consumer Price Index (CPI) in Year 1 is 144, and in Year 2 it is 152. What is the inflation rate?
5.6%
Which animal has the most teeth?
Slug/Snail
Which college has the largest enrollment in the US? (Most students)
Arizona State University