| A | B |
|---|
| The unemployment rate does not take into account the number of part-time workers who want to have full-time jobs. | have full-time jobs |
| To determine Gross National Product, | add to GDP all payments received by Americans outside the U.S. and subtract payments made to foreign-owned resources in the U.S. |
| An index that reports on price changes for about 90,000 goods and services is the | consumer price index. |
| The business cycle since World War II has been characterized by | extended expansions alternating with brief recessions |
| Unemployment that is directly related to swings in the business cycle is | cyclical unemployment. |
| According to the demand-pull theory, inflation is caused by | businesses , consumers, and government |
| Changes in technology and changes in consumer tastes can cause | structural unemployment. |
| According to the demand-pull theory, inflation is caused by | consumers |
| GDP is the most complete measure of a nation's ____________________. | output or production |
| Activities in the ____________________ economy are not included in GDP. | underground |
| The price index is calculated by dividing the latest prices of ____________________ items by the base year prices and then multiplying by 100. | market basket |
| Economists calculate the inflation rate by dividing the ____________________ in price level by the beginning price level and multiplying by 100. | change |
| During the late 1990s, the United States experienced ____________________ inflation, at a rate of about 3 percent per year. | creeping |
| frictional unemployment | ? |
| technological unemployment | ?? |
| external shock | ??? |
| represents a recession in the business cycle | ????? |
| represents a trough in the business cycle | ?????? |
