Course Code Course Title Teacher Name Teacher CNIC Teacher Contact
Course Code Course Title Teacher Name Teacher CNIC Teacher Contact
Course Code Course Title Teacher Name Teacher CNIC Teacher Contact
Course Title
Teacher Name
Teacher CNIC
Teacher Contact
2 The population is 1,200 million, the labor force 10 percent 7.5 4.3 percent 5
is 150 million, and the number of unemployed percent percent
is 15 million. What is the unemployment rate?
3 Since 1950, it can be observed that the female decreased. decreased. decreased. decreas
participation rate in our labor force has ed.
increased.
4 After completing college, John Smith spent two frictionall not in the cyclically structur
months looking for a job. During this period he y labor force unemploye ally
would be classified as unemploy d. unempl
ed oyed.
5 Which of the following best fits the definition Not Working Retired and Not
of unemployed? working less than a not working
but full work working at a
looking week gainful
for a job pursuit,
either in
or out
of the
home
6 Which one of the following statements about . The value GDP can GDP
GDP is true? All of of be can be
Above household calculated calculat
production using the ed
is expenditur using
excluded es the
from GDP approach. income
approac
h
7 C + I + G + X equals GDP. DPI NDP. .
PI.
12 National income includes all of the following depreciati proprietors net interest propriet
EXCEPT on. ' income. ors'
income
13 The amount of income households receive after disposable gross personal national
personal income taxes have been paid is known personal domestic income. income
as income income
14 The total factor payments to all resource national net personal gross
owners is called income. domestic income domesti
product. c
income
15 Personal income is equal to disposable NDP disposable national
personal minus personal income
income national income minus
plus income. plus (corpor
personal personal ate
income and income
taxes. corporate taxes
income and
taxes Social
Security
).
20 Which of the following variables is used to real GDP nominal nominal real
measure economic growth? per capita GDP GDP per GDP
capita
21 According to your text, which of the following China Japan Germany United
countries currently has the highest annual per States
capita Gross Domestic Product (GDP) growth
rate?
24 B C D A
25 Which of the following is NOT an important The The rate of The rate of The rate
factor affecting economic growth? growth of saving growth of of
leisure capital growth
in labor
producti
vity
26 How should per capita real Gross Domestic It is a It is an Per capita All of
Product (GDP) be used? reasonabl accurate real Gross the
y good measure Domestic above.
measure of Product
of economic (GDP) is a
productiv well- good
e activity. being. gauge of a
nation's
quality of
life
because it
takes into
account a
nation's
cultural
and
spiritual
values.
29 Economic growth may overstate changes in the the people are the expecte
standard of living if average retiring at number of d life
workweek a younger students spans
is age. attending are
increasing college is increasi
. increasing. ng.
30 The per capita GDP for Hungary in 2011 was 3 percent 97 percent 2 percent 1
$12,000 and in 2012 was $12,360. How much percent
did the economy grow in 2012?
31 What type of unemployment is found in India? All of the Structural Seasonal Disguis
above Unemploy unemploy e
ment ment unempl
oyment
35 Who are counted in the labour force of a The The The Populati
country? populatio population population on of 21
n of 15 to of 18 to 60 of 18 to 65 to 62
65 years years of years of years of
of age age age age
36 For you to be considered out of the labor force, any of the a full-time a full-time a full-
you can be above student retiree time
volunte
er.
40 Net national product at factor cost is also known Net Gross National Personal
as: Domestic National Income Income
product product
41 The money demand function implies that negatively positively negatively negativ
money demand is related to related to related to ely
interest interest bond related
rates rates. prices. to
transact
ions in
the
econom
y.
42 If the interest rate increases, there is a(n) decrease increase in decrease in increase
in the the the in the
quantity demand demand quantity
of money for money. for money of
demanded money
demand
ed.
43 When the Fed conducts open market purchases is also raises shifts
operations, it or sells engaging taxes at the
governme in fiscal the same demand
nt bonds policy. time. for
issued by money
the U.S. curve.
Treasury.