In the United States, the base year used to measure chain type real GDP is currently...
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In the United States, the base year used to measure chain type real GDP is currently 2012.True
False
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Which of the following is included in US GDP but not US GNP? (Boeing is a US company and Airbus is a French company.)
a. A Boeing jet produced in the United States
b. A Boeing jet produced in France
c. An Airbus jet produced in France
d. An Airbus jet produced in the United States.
e. None of the above
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The economic and social costs of unemployment are insignificant.
True
False
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Structural unemployment occurs when technological change makes some jobs obsolete.
True
False
Homework Answers
True, As per government calculations in USA 2012 is a base year for GDP calculations.
d is correct option. A boeing jet produced in USA will be a part of USA GDP but income will be sent out and hence will not be a part of USA GNP.
The economic and social costs of unemployment are insignificant.: False it is significant.
Structural unemployment occurs when technological change makes some jobs obsolete.: True. It is one of the causes of unemployment.
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