Question

1.For the United States, the gap between GDP and GNP is relatively ________.

Select the correct answer below:

small

large

variable

unpredictable

2.Since inflation is a time when the buying power of money in terms of goods and services is _________, deflation will be a time when the buying power of money in terms of goods and services ___________.

Select the correct answer below:

reduced; falls

increased; rises

reduced; increases

increased; reduces

3.Which of the following are examples of employment agreements devised to mitigate risk of non-payment for current and future services?

Select the correct answer below:

a freelance writer signs a contract to complete a 5,000 word assignment for a publication

a therapist has each of his patients sign an agreement on their first visit, promising to pay for services provided

a law firm issues a contract to a professional engineer to provide expertise on a specific topic relevant to one of their cases

all of the above

4.Which of the following is an example of an individual who is underemployed?

Select the correct answer below:

an individual who does not have a job but is looking for work

an individual who is discouraged because of not finding work

individuals who are not working and not looking for work

an individual who has a college degree in engineering but is working as a receptionist

Answer 1

1.A) Small

For the united states the gap between GDP and GNP is relatively Small.

2.C)Reduced,Increases

Inflation is the time when the buying power of money is reduced in term of goods and services and deflation will be time when buying power of money increases in term of goods and services.

3.D) All of the above

These all are example of employment agreement .

4.D) An individual who has a college degree in engineering but is working as a receptionist.

This is example of underemployment.