Unemployment + GDP Review

An airline buying a plane belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

• Consumption Expenditures
• Investment Expenditures
• Government Expenditures
• Net Imports

Tanks and roads belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

• Consumption Expenditures
• Investment Expenditures
• Government Expenditures
• Net Imports

Expectant parents buy supplies for the nursery. Would this be included in GDP?

• Yes - Consumer Spending

• Yes - Investment

• No - Intermediate goods

• No - Non-market activity

The trade in exotic animals being illegally sold as pets is a multi-billion-dollar-a-year industry. Is this included in GDP?

• Yes - Consumer spending

• Yes - Government Spending

• No - Underground Economy (not taxable)

• No - Non-market activity (Financial transaction only)

A shoe produced in South Korea and sold in the U.S.

• Included in U.S. GDP

• Included in South Korea GDP

• Included in Canadian GDP

Is this counted in the GDP of the US?

Cars made by a Japanese company in California.

• Yes

• No

Is this counted in the GDP of the US?

Cars made by a US company in South Korea.

• Yes

• No

This good acts as an input to create the final product.

• Final Good

• Intermediate Good

• Purchased Good

• Used Goo

This type of unemployment includes: Changing jobs, being fired, quitting, moving, and looking for a first time job.

• Frictional

• Structural

• Cyclical

• Seasonal

This type of unemployment includes: Lacking the skills necessary for the job/ your job being replaced by technology.

• Frictional

• Structural

• Cyclical

• Seasonal