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ECO - Match the following




Question;Matching: Match each letter in column 2 to the appropreciate definition in column 1;Column 1 1. ___Alternating periods of economic growth and contraction, which can be measured by changes in real GDP.2. ___The phase of the business cycle in which real GDP reaches its minimum after falling during a recession.3. ___An expansion in national output measured by the annual percentage increase in a nation?s real GDP.4. ___The phase of business cycle in which real GDP reaches its maximum after rising during a recovery.5. ___Variables that change at the same time that real GDP changes.6. ___A person who wants to work, but who has given up searching for work because he or she believes there will be no job offers.7. ___The difference between actual real GDP and potential or full-employment real GDP.8. ___A downturn in the business cycle during which real GDP declines and the unemployment rate rises.9. ___Variables that change before real GDP changes.10. ___The percentage of people in the civilian labor force who are without jobs and are actively seeking jobs. 11. ___Unemployment caused by the normal search time required by workers with marketable skills who are changing jobs, initially entering the labor force, reentering the labor force, or seasonally unemployed. 12. __An upturn in the business cycle during which real GDP rises.13. ___Variables that change after real GDP changes. 14. ___The number of people 16 years or age and older who are employed or actively seeking a job. 15. ___Unemployment caused by a mismatch of skills of workers out of work and the skills required for existing job opportunities. 16. ___Unemployment caused by the lack of jobs during a recession.17. ___The situation in which an economy operates at an unemployment rate equal to the sum of the frictional and structural unemployment rate.;Column 2;A. RecoveryB. Unemployment RateC. Discouraged WorkerD. RecessionE. Business CycleF. PeakG. Economic GrowthH. Leading IndicatorsI. Civilian Labor ForceJ. Structural UnemploymentK. Coincident IndicatorsL. GDP GapM. TroughN. Full EmploymentO. Lagging IndicatorsP. Cyclical UnemploymentQ. Frictional Unemployment


Paper#57706 | Written in 18-Jul-2015

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