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- Apply the correct label to each labor force participation rate line.
- male-> top line. Female -> bottom line
- Why might the prices of some products decrease while others increase?
- advances in technology typically cause the price of some goods to decrease over time
- How do intermediate goods factor into the calculation of GDP?
- Intermediate goods do not factor into GDP; only final goods are counted.
- Use the table to complete the sentence about race and unemployment.
- The U.S. unemployment rate of black adult workers is consistently higher than that of white adult workers, and the labor force participation rate is consistently higher for male workers than for female workers.
- identify each good as intermediate or final
- A memory card bought by a photographer
- Correct label:
- Final
- Tires bought by a driver for her personal vehicle
- Correct label:
- Final
- Lenses bought by a camera manufacturer
- Correct label:
- Intermediate
- Tires used in car manufacture
- Correct label:
- Intermediate
- Correctly classify each situation that GDP cannot measure.
- You repair your own pants when you rip them.
- Correct label:
- Non-market good
- Unregulated industries pollute the air.
- Correct label:
- Quality of environment
- A restaurant server takes home $75 in unreported tips each night.
- Correct label:
- Underground economy
- Country A has a very high GDP, but the average person works 60 hours a week.
- Correct label:
- Leisure time
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