1) What type of unemployment is a by-product of geographic and occupational mobility and is NOT generally considered to be a serious problem?

Question 8 options:

structural unemployment

frictional unemployment

underemployment

cyclical unemployment

2) Which of the following will NOT directly affect the size of a nation's capital stock?

resources reallocated to the production of food

a newly constructed factory

a new machine installed in a company's plant

a student enrolled in university as a full-time student

3) What is the term for household income after taxes?

disposable income

gross national product

national income

gross domestic product

4) What was the basis of Malthus's predictions regarding the decline in per capita economic growth?

Question 11 options:

scarce resources

the law of demand

decreasing returns to scale

the law of diminishing marginal returns

5) What term do economists use to describe persons who have jobs but are actively looking for other work?

employed

out of the labour force

underemployed

overemployed

6) Which of the following would decrease SRAS?

Question 13 options:

on-the-job training that causes worker productivity to rise

a decrease in investments into in education and vocational programs

an increase in the amount of capital employed by businesses

firms adopting more powerful computers and more advanced machine tools for their workers

7) In the short run, which of the following increases will result from an increase in the price level?

an increase in output prices relative to input prices

an increase in unemployment rates

an increase in the natural rate of output

an increase in the profit margins of many producers

8) If employers win major wage concessions in many industries, what will be the effect on short-run aggregate supply?

It will shift right (an increase in aggregate supply).

It will shift left (a decrease in aggregate supply).

It will shift left (an increase in aggregate supply).

It will shift right (a decrease in aggregate supply).