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Economics: G, I, & L Test

Enter the letter for the matching Definition
incorrect
1.
Limitations on GDP as a Measure of Economic Growth
incorrect
2.
Allows for Advancement
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3.
Derived Demand for Labor
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4.
Personal Effects of Unemployment
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5.
2/3
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6.
In favor of raising minimum wage:
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7.
Poverty threshold for a family of four is:
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8.
Work Force Requirements
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9.
Against raising the minimum wage:
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10.
Decline of Middle Class Wages
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11.
Savings Important in Economy
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12.
Economic Impact of Unemployment
A.
When people earn less they are less inclined to spend, slowing economic growth.
B.
Demand for workers from demand for product.
C.
Economic growth and development.
D.
Less money being distributed and cycled through the economy.
E.
Not timely, population, and underground economy.
F.
Totally unrealistic.
G.
Makes money available to people and businesses to borrow and spend,
H.
- Can't logically support a person. - Doesn't inflate at the same rate as everything else.
I.
Familial stress, inability to have kids, can't travel, etc.
J.
16+, have or searching for a job, and paid for their work.
K.
- Leads to outsorucing. - Leads to mechanization.
L.
Portion of GDP created by consumer spending.
Type the Definition that corresponds to the displayed Term.
incorrect
13.
Components of Real GDP
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14.
Components of Nominal GDP
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15.
GDP Per Capita
Type the Term that corresponds to the displayed Definition.
incorrect
16.
Amount of money available to save and spend.
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17.
Out with the old and in with the new.
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18.
Spending money leads to economic growth.
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19.
From market expansions and contraction.
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20.
"Under the table work", unpaid work. and illegal activity.
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21.
Normal unemployment with daily fluctuations.

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Created by: amgraf2015
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