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Macroeconomics Principles and Policy Study Set 1

Business

Quiz 6 :

The Goals Of Macroeconomic Policy

Quiz 6 :

The Goals Of Macroeconomic Policy

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Given the labor force,either more capital or better technology will shift the production function downward.
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True False
Answer:

Answer:

False

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The costs of unemployment to an individual out of work are larger now than in the 1930s.
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True False
Answer:

Answer:

False

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Economists generally assume that faster economic growth is negative for society.
Free
True False
Answer:

Answer:

False

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Frictional unemployment is a "necessary" cost of a dynamic economy.
True False
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The production function shows the volume of output that can be produced from given inputs.
True False
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Unemployment insurance cannot eliminate the national costs of lost output due to unemployed labor.
True False
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Frictional unemployment will typically be a short-term problem for someone between jobs.
True False
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Labor productivity measures output per hour of work.
True False
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The unemployment rate for married men is usually higher than the rate for teenagers.
True False
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Unemployment rates differ widely among various groups in the population.
True False
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Cyclical unemployment occurs when real GDP falls below potential GDP.
True False
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Someone unemployed for a long period of time due to technological change would be described as structurally unemployed.
True False
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The growth of the labor force and the growth of labor productivity help determine the rate of GDP growth.
True False
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As capital goods depreciate,the growth of labor productivity will increase.
True False
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Unemployment insurance benefits the macroeconomy by supporting purchasing power.
True False
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The growth rate in potential GDP is equal to the growth rate in the population.
True False
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Small differences in economic growth rates translate into significant differences in living standards.
True False
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Technological change and labor productivity are negatively related.
True False
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A nation's standard of living depends on its population and labor productivity.
True False
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Full employment is defined by all economists as precisely 5 percent of the labor force.
True False
Answer:
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