'Week 5 Quizzes – Eco/Gm 561\r'

'Week 5 Quizzes ECO/GM 561 Your Results for: â€Å" lot Assessment Quiz” sign this page grade statute title:Economics UOP tradition CW Book Title:UOP-custom course for Economics Book Author: gaucherie synopsis of Results 100% settle of 7 Scored items: 7 Correct: 100% 0 Incorrect: 0% more than information about scoring ________________________________________ 1. gross domestic product includes all transactions in which money or straightforwards change hands. Your serve:False ________________________________________ 2. gross domestic product is have-to doe with to the value of total sales in an economy. Your execute:False _______________________________________ 3. I bought a record be year. I dont like it any more and am going to sell it to my cousin for $2. This sale should be included in gross domestic product. Your get along:False ________________________________________ 4. Consumption, investment, governing purchases, and net exports atomic number 18 the four c omponents of total expenditures. Your come: dependable ________________________________________ 5. Households have all of their personal income to return or save. Your effect:False ________________________________________ 6.\r\nWhen economists calculate nominal phrase GDP it means they are calculating GDP only approximately. Your Answer:False ________________________________________ 7. Per capital GDP is a countrys GDP divided by its population. Your Answer:True ________________________________________ Your Results for: â€Å"Readiness Assessment Quiz”Print this page Site 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 ________________________________________ . The twin evils of macroeconomics are unemployment and inflation. Your Answer:True ________________________________________ 2. Recessions last sextet months. Anything daylong i s called a depression. Your Answer:False ________________________________________ 3. To be considered engaged a person must be functional for pay for at least 20 hours per week. Your Answer:False ________________________________________ 4. You need to be 14 geezerhood old to be considered part of the labor force. Your Answer:False ________________________________________ . A discouraged worker is non actually working. Your Answer:True ________________________________________ 6. People typicly 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 ________________________________________\r\n'