55. Which of the following graphs shows the maximum combination
of goods and services that can be produced at a given time, if all
available resources are used efficiently?
56. A positive gross domestic product (GDP) gap exists when
57. Gross domestic product (GDP) is a measure of
58. Adjustment from gross national product (GNP) to net national
product (NNP) would require which one of the following?
59. A good produced in 2008 that was in the finished goods inventory
on December 31, 2008, and was sold in January 2009 would be
included in whole or in part in the GDP of which year(s)?
60. The following information is available for economic activity for
year 1: What amount is the gross domestic product for year 1?
61. Which of the following indicates that the economy is in a
recessionary phase?
62. If the U.S. economy is experiencing a 9% total unemployment rate
and the natural rate of unemployment is 5.5%, which of the following
is the cyclical rate of unemployment?
63. Jason, 14 years old, has been working delivering newspapers for
the past two years. Because he just entered high school, he has had to
give up his newspaper delivery job. Although he has been seeking a
new job, he has not been able to find one. Jason would be considered
64. There can be official full employment when there is which of the
following kinds of unemployment? I. Structural unemployment.II.
Frictional unemployment.III. Seasonal unemployment.
65. As a resu lt of the recession in 2009 and the related decline in
tourism, several thousand hospitality industry workers in Florida
became unemployed. These workers were