3. for 100
What does GDP measure?
What is the equation?
1) The total market value of all final
goods and service produced in a given
time within a country
2) GDP = C + I + G + NX
4. for 200
Is this counted as part of GDP?
Explain:
A plumber’s purchase of a used
truck
1) Excluded; secondhand sales are
not included in calculating the
GDP to avoid double-counting
5. for 300
TWO PART QUESTION:
1) What are the three purposes of
measuring economic growth rate?
2) What is the equation for
determining the economic growth
rate?
1) Economic welfare comparison, international
comparison, Business cycle forecast
2) EGR = RGDP this year – RGDP last year X 100
RGDP this year
6. for 400
Define ‘unemployment.’ How
is it calculated?
1) If you are searching for a job but are unable to find one for
over a week
2) Unemployment rate = number of unemployed people X 100
Total labor force
7. for 500
Name three different causes of
unemployment, define all three,
and provide an example for one
Any three of the following six: frictional (process of changing
jobs), structural (change in taste/demand affect the number
of workers desired by businesses), cyclical (dependent on
business cycles), seasonal (dependent on weather/consumer
taste), technological (when laborers are replaced by
machines), voluntary (when people give up looking for jobs).
8. for 100
What are the three
macroeconomic policy
objectives?
Stable and high economic
growth, low inflation, low
unemployment rate
9. ODD BITS for 200
This plane
divides your
body into a right
and left half.
What is the MIDSAGITTAL plane?
10. ODD BITS for 300
This is the term that
describes the relationship
of pollex to hand.
What is LATERAL ?
11. ODD BITS for 400
This type of
plane has
sectioned
Mr. Davies
What is a FRONTAL plane ?
12. ODD BITS for 500
This plane
sections your
body into a
superior and
inferior portions.
What is a TRANSVERSE plane ?
13. ALL NUMBERS for 100
It is the # of midsagittal
planes you can have.
What is 1 ?
14. ALL NUMBERS for 200
You have this # of digits.
What is 20 ? (10 fingers + 10 toes)
15. ALL NUMBERS for 300
You have this # of possible
transverse planes.
What is INFINITY ?
16. ALL NUMBERS for 400
It is the # of ventral
body cavities.
What is 3 ? (thoracic, abdominal, pelvic)
17. ALL NUMBERS for 500
You have this # of orbital cavities.
What is 2 ?