1. The largest source of household income is in the U.S. is obtained
a. stock dividends
b. wages and salaries
c. interest earnings
d. rental income
2. The market where business sell goods and services to households and the government is called
a. goods market
b. factor market
c. capital market
d. money market
3. Real gross domestic product is best defined as
a. the market value of intermediate goods and services produced in an economy including exports
b. all goods and services produced in an economy, stated in prices in a given year and multiplied by quantity
c. the market value of all final goods and services produced in an economy stated in the prices of a given year
d. the market value of goods and services produced in an economy stated in current year prices
4. Underemployment includes
a. who work off the books to avoid paying taxes
b. who are working part time or not using all their skills at a fulltime job
c. who are tired of looking for a job soo they quit looking but still want one
d. whose skills are not in demand anymore
5. The bureau of economic analysis is responsible for which of the following
a. setting interest rates
b. managing the money supply
c. calculating the US gross domestic product
d. paying unemployment benefits