Chapter 12/13 Quiz —— 1.) The dollar value ofall final goods and services within a year A) Capital deepening 2.) The average of all prices in the economy B.) Cyclical Unemployment _____ 3.) Products used in the production of final goods C.) Frictional Unemployment ___ 4.) Real GDP divided by the total population D.) Globalization ____ 5.) Increasing the amount of capital per worker E.) Gross domestic product 6.) Income that is not spent F.) Intermediate goods 7.) Workers are needed only part of the year G.) Price Level ___ 8.) Percentage of the labor force that is unemployed H.) Real GDP per capita 9.) Rise or fall based on the economy, 1.) Savings —_— 10.) Workets search 3 long time to find a job J.) Seasonal Unemployment ____ 11.) Interconnected worldwide economics K.) Structural Unemployment _____ 12.) Workers do not have needed skills. L.) Unemployment Rate —— 13.) Which of the following helped the U.S economy recover from the Great Depression? A) WWI C.) Korean B.) WWII D.) Vietnam ____ 14.) An example of capital deepening would be: 2.) Permitting two workers to share one job b.) Paying for an employee to take college courses <) Laying off employees when a factory is modernized 4.) Moving a manufacturing plant overseas where labor cost are lower 15.) What is considered one cause of inflation? a.) Demand and supply are in equilibrium <) Employment is increased b.) Producets raise prices to meet increased costs.) The money supply decreases —— 16.) Why don’t government planners try to end seasonal unemployment? a.) It would eliminate too many jobs b.) Many people don not want to work all year <.) It would be too expensive d.) It is a natural part of a healthy economy 17.) What can happen to unemployment when the economy slows down? a.) It rises because the demand for labor goes down _c.) It rises because the cost of labor goes up b,) It falls because the demand for labor goes up d.) It rises because production speeds up © Good job ©