# Essay on Econ 214 Exam 1 Complete Solutions Correct Answers Key

1883 Words Jul 2nd, 2016 8 Pages
ECON 214 exam 1 complete solutions correct answers key

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Two different versions
Version A Quiz
Question 1 Structural unemployment is:
Question 2 Which of the following equations represents the labor force participation rate?
Question 3 The concept of a price index is that:
Question 4 Use the following table to answer the questions that follow: According to the table, the labor force participation rate in this economy is equal to:
Question 5 If the relevant population is 268 million people and the number of people in the labor force is 148 million, the labor force participation rate is:
How many quarters were spent in recession?
Question 17 Consider the following data, where GDP values are measured in millions of dollars, to answer the questions that follow. What was the growth rate of real GDP from 2011 to 2012?
Question 18 GDP is not a good measure of:
Question 19 Use the following table to answer the questions that follow: According to the table, the unemployment rate in this economy is equal to:
Question 20 The Bureau of Labor Statistics releases consumer price index (CPI) data:
Question 21 Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the questions that follow: Assume that the base year is 2012. What was the real GDP in 2013?
Question 22 Economic growth is best measured by changes in:
Question 23 According to the price confusion problem, if the price of a product increases, then:
Question 24 If everyone buys the same goods every year and the price of housing rises by 38%:
Question 25 Individuals who are working part¬time but would prefer to be working full¬time are defined as:
Question 26 When GDP increases, national income ________ and national output __________.
Question 27 Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the questions that follow: Assume that the base year is

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