1. To assess the state of the labor market, not only is UNRATE calculated, but so are U3, U4, and U5.These latter measures result in higher unemployment rate as compared to UNRATE because they include (as an example) ____________________, which is not included in UNRATE.
2. A fall in future income causes private savings to _________ (increase or decrease).
3. Real GDP can be decomposed into Trend and Cycle, where the Trend captures the ______________ of the economy.
4. If both G and T increase by the same amount, what impact will this have on the S curve? Just state by choosing out of the following options: Shift outwards, shift inwards, no change in S.