1. The market value of all final goods and services produced within a country in a given time period is the*

2. The difference between real and nominal GDP is that real GDP is adjusted for*

3. One cause of inflation is?

4. A decline in economic activity over a period of at least six months is called a*

5. When calculating the size of the labor force, the Bureau of Labor Statistics counts not only people who are employed, but also ________________

6. What is the usual result of setting a price ceiling on rents?

7. The manufacturers of XYZ winter sportswear have their manufacturing plants running night and day, but they are unable to produce enough sportswear to satisfy demand. If XYZ manufacturers cannot increase production and demand continues to increase, the price of XYZ winter sportswear will:*

8. If the United States stopped importing automobiles from Country X, who would be most likely to benefit?*

9. If the price of beef doubled and the price of poultry stayed the same, people would most likely buy:*

10. An increase from 5% to 8% in the interest rates charged by banks would most likely encourage:*

11. Give an example of the barter system?