SOPHIA ECON102 Unit 4 Challenge 2 Latest 2022 May

ECON102 Macroeconomics

Unit 4 Challenge 2

How does macroeconomic analysis utilize economic indicators?

a.)Looks to lagging indicators as the best source of information

b.)Uses multiple indicators due to the complexity of the economy

c.)Considers leading indicators the most comprehensive

d.)Uses coincident indicators only in policy making

Which of the following describes real GDP?

a.)Adjusted for inflation to show growth in output

b.)Considers the nominal prices of goods/services

c.)Shows changes in prices of goods based on inflation

d.)Is the best measure of per capita standard of living

The CPI and PPI are measured by  __________

a.)the Congressional Budget Committee

b.)the Bureau of Labor Statistics

c.)the Internal Revenue Service

d.)a compilation of state assessments made each month

A marginalized worker is ________.

a.)considered part of the labor force

b.)always part of the nonfarm payroll statistic

c.)one who has given up looking for work

d.)one who is underemployed

Which of the following is true if retail sales are increasing?

a.)One can expect unemployment to increase.

b.)One can expect interest rates to fall.

c.)One can expect imports to decrease.

d.)One can expect the economy to grow.

Consumer Confidence is __________.

a.)not sensitive to the media reports

b.)immune to time lags

c.)sensitive to marketing campaigns

d.)a comprehensive indicator and good predictor of the economy

What would the Gini coefficient be if one person retains all of the income in a country?

a.)50

b.)1

c.)-1

d.)0

Which of the following statements is true when a country's citizens' overseas production is met by domestic production by foreigners?

a.)GDP is much larger than GNP.

b.)It is impossible to predict, given different tax rates in different countries.

c.)GDP and GNP are fairly equal.

d.)GNP is much larger than GDP.

Which of the following is generally a trait of countries that are developing or underdeveloped?

a.)Greater income disparity

b.)Greater life expectancy

c.)Lower birth rate

d.)Lower gender bias in employment

Which of the following is an example of how macroeconomists use data on labor force participation rates by gender?

a.)It is used to calculate GDP.

b.)It is associated with access and availability of jobs.

c.)It shows a country's level of education attainment.

d.)It matches the Gini coefficient.