Economics

Average labor productivity tends to be

Average labor productivity tends to be

Average labor productivity tends to be
A) countercyclical and more variable than real GDP.
B) procyclical and more variable than real GDP.
C) countercyclical and less variable than real GDP.
D) procyclical and less variable than r

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Gordis

Average labor productivity is computed as the

Average labor productivity is computed as the

Average labor productivity is computed as the
A) ratio of real output in manufacturing to the level of real GDP.
B) ratio of real GDP to the level of employment.
C) ratio of real GDP to the unemployment rate.
D) ratio of industria

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Gordis

Employment tends to (Multiple Choice Question)

Employment tends to (Multiple Choice Question)

Employment tends to
A) be coincident with the cycle.
B) lag the cycle.
C) lead the cycle.
D) sometimes lead, sometimes lag the cycle.

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Gordis

Employment tends to be (Multiple Choice Question)

Employment tends to be (Multiple Choice Question)

Employment tends to be
A) countercyclical and less variable than real GDP.
B) countercyclical and more variable than real GDP.
C) procyclical and less variable than real GDP.
D) procyclical and more variable than real GDP.

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Gordis

Real investment tends to be

Real investment tends to be

Real investment tends to be
A) countercyclical and less variable than real GDP.
B) countercyclical and more variable than real GDP.
C) procyclical and less variable than real GDP.
D) procyclical and more variable than real GDP.

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Gordis

Real consumption tends to be

Real consumption tends to be

Real consumption tends to be
A) countercyclical and less variable than real GDP.
B) procyclical and more variable than real GDP.
C) countercyclical and more variable than real GDP.
D) procyclical and less variable than real GDP.

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Gordis

Forecasting the future path of real GDP by exploiting past statistical relationships

Forecasting the future path of real GDP by exploiting past statistical relationships

Forecasting the future path of real GDP by exploiting past statistical relationships
A) is never very reliable.
B) can be accomplished by the construction and use of an index of coincident variables.
C) can be accomplished by the const

Ao9   132   3 Replies

Gordis

An example of a leading variable in the US is

An example of a leading variable in the US is

An example of a leading variable in the US is
A) housing starts.
B) GDP.
C) the consumer price index.
D) investment is structures.

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Gordis

If real GDP helps to predict the path of a particular macroeconomic variable, it is said to be a

If real GDP helps to predict the path of a particular macroeconomic variable, it is said to be a

If real GDP helps to predict the path of a particular macroeconomic variable, it is said to be a
A) lagging variable.
B) leading variable.
C) coincident variable.
D) conventional variable.

Ao9   117   3 Replies

Gordis

If a macroeconomic variable tends to aid in predicting the future path of real GDP, it is said to be

If a macroeconomic variable tends to aid in predicting the future path of real GDP, it is said to be

If a macroeconomic variable tends to aid in predicting the future path of real GDP, it is said to be a
A) coincident variable.
B) lagging variable.
C) leading variable.
D) convenient variable.

Ao9   112   3 Replies

Gordis

If deviations from trend in a macroeconomic variable are negatively correlated with deviations from

If deviations from trend in a macroeconomic variable are negatively correlated with deviations from

If deviations from trend in a macroeconomic variable are negatively correlated with deviations from trend in real GDP, that variable is said to be
A) procyclical.
B) acyclical.
C) countercyclical.
D) useless in predicting future m

Ao9   168   3 Replies

Gordis

A scatterplot allows us (Multiple Choice Question)

A scatterplot allows us (Multiple Choice Question)

A scatterplot allows us
A) to mark peaks and troughs.
B) to see the comovement between two time series.
C) to determine whether a series leads or lags.
D) to determine how persistent a series is.

Ao9   411   3 Replies

Gordis

A scatterplot is (Multiple Choice Question)

A scatterplot is (Multiple Choice Question)

A scatterplot is
A) a graph of one series against time.
B) a graph of two series against time.
C) a graph highlighting leads and lags.
D) a graph with one series on each axis.

Ao9   159   3 Replies

Gordis

If deviations from trend in a macroeconomic variable are positively correlated with deviations from

If deviations from trend in a macroeconomic variable are positively correlated with deviations from

If deviations from trend in a macroeconomic variable are positively correlated with deviations from trend in real GDP, that variable is said to be
A) procyclical.
B) useful in predicting future movements in real GDP.
C) countercyclical

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Gordis

A lagging variable can be recognized by the fact that

A lagging variable can be recognized by the fact that

A lagging variable can be recognized by the fact that
A) its turning points happen before the turning points of GDP.
B) its persistence is smaller than that of GDP.
C) the turning points of GDP happen before its turning points.
D)

Ao9   281   3 Replies

Gordis

If the correlation between GDP and y is 0, we say y is

If the correlation between GDP and y is 0, we say y is

If the correlation between GDP and y is 0, we say y is
A) acyclical.
B) countercyclical.
C) tricyclical.
D) procyclical.

Ao9   255   3 Replies

Gordis

If the correlation between GDP and y is -0.75, we say y is

If the correlation between GDP and y is -0.75, we say y is

If the correlation between GDP and y is -0.75, we say y is
A) procyclical.
B) tricyclical.
C) countercyclical.
D) acyclical.

Ao9   128   3 Replies

Gordis

If the correlation between GDP and y is 0.55, we say y is

If the correlation between GDP and y is 0.55, we say y is

If the correlation between GDP and y is 0.55, we say y is
A) tricyclical.
B) acyclical.
C) procyclical.
D) countercyclical.

Ao9   167   3 Replies

Gordis

If x is useful for predicting future GDP then

If x is useful for predicting future GDP then

If x is useful for predicting future GDP then
A) x is coincident.
B) x is countercyclical.
C) x is a leading variable.
D) x is a lagging variable.

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Gordis

Negative correlation between x and y implies that

Negative correlation between x and y implies that

Negative correlation between x and y implies that
A) when x is high, y is low.
B) when x is high, y is high.
C) x/y < 0.
D) xy < 0.

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Gordis

When a macroeconomic aggregate is procyclical

When a macroeconomic aggregate is procyclical

When a macroeconomic aggregate is procyclical
A) it grows faster than GDP.
B) its deviations from trend are more often of the same sign as the deviations from trend in GDP.
C) its deviations from trend generally change more that the de

Ao9   134   3 Replies

Gordis

Positive correlation between x and y implies that

Positive correlation between x and y implies that

Positive correlation between x and y implies that
A) x and y are positively unrelated.
B) when x is high, y is high.
C) when x is zero, y is positive.
D) when x is high, y is low.

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Gordis

Robert Lucas has popularized the notion that with respect to

Robert Lucas has popularized the notion that with respect to

Robert Lucas has popularized the notion that with respect to
A) quantitative behavior of co-movements among series, business cycles are all alike.
B) severity, business cycles are all alike.
C) qualitative behavior of co-movements amon

Ao9   195   3 Replies

Gordis

A time series is (Multiple Choice Question)

A time series is (Multiple Choice Question)

A time series is
A) a macroeconomic aggregate that does not lead or lag the business cycle.
B) data that is subject to revision.
C) the length of a business cycle.
D) a sequence of dated measurements.

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Gordis

The property that macroeconomic variables fluctuate together in patterns that exhibit strong regular

The property that macroeconomic variables fluctuate together in patterns that exhibit strong regular

The property that macroeconomic variables fluctuate together in patterns that exhibit strong regularities is called
A) correlation.
B) coexistence.
C) co-movement.
D) coincidence.

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Gordis

The official dating of the most recent recession places its timing as

The official dating of the most recent recession places its timing as

The official dating of the most recent recession places its timing as
A) 2008-2009.
B) 2008.
C) 2007.
D) 2007-2009.

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Gordis

Before 2000, the three most recent U.S. recessions occurred in

Before 2000, the three most recent U.S. recessions occurred in

Before 2000, the three most recent U.S. recessions occurred in
A) 1973-1975, 1981-1982, and 1990-1991.
B) 1969-1973, 1979-1982, and 1994-1995.
C) 1973-1975, 1982-1985, and 1990-1991.
D) 1981-1982, 1990-1991, and 1998-1999.

Ao9   150   3 Replies

Gordis

Predicting business cycles is difficult because

Predicting business cycles is difficult because

Predicting business cycles is difficult because
A) they are very persistent.
B) statistics lie.
C) their frequency is irregular.
D) the weather changes unpredictably.

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Gordis

Which of the following is NOT a feature of recent U.S. business cycles?

Which of the following is NOT a feature of recent U.S. business cycles?

Which of the following is NOT a feature of recent U.S. business cycles?
A) The time series of deviations from trend in real GDP is quite choppy.
B) The time series of deviations from trend in real GDP is quite smooth.
C) There is no re

Ao9   95   3 Replies

Gordis

Macroeconomic forecasting is made easier due to the fact that

Macroeconomic forecasting is made easier due to the fact that

Macroeconomic forecasting is made easier due to the fact that
A)  turning points are easy to predict.
B) deviations from trend in real GDP are persistent.
C) real GDP is variable about trend.
D) the business cycle has a regul

Ao9   256   3 Replies

Gordis

Business cycle persistence refers to the property that

Business cycle persistence refers to the property that

Business cycle persistence refers to the property that
A) business cycles are persistently hard to predict.
B) when real GDP is above trend, it tends to stay above trend, and when it is below trend, it tends to stay below trend.
C) boo

Ao9   229   3 Replies

Gordis

A turning point is (Multiple Choice Question)

A turning point is (Multiple Choice Question)

A turning point is
A) a zero deviation from trend.
B) a boom or a recession.
C) a change in policy.
D) a peak or a trough.

Ao9   142   3 Replies

Gordis

A business cycle trough is a

A business cycle trough is a

A business cycle trough is a
A) small negative deviation from trend in real GDP.
B) relatively large positive deviation from trend in real GDP.
C) small positive deviation from trend in real GDP.
D) relatively large negative devia

Ao9   136   3 Replies

Gordis

A business cycle peak is a

A business cycle peak is a

A business cycle peak is a
A) relatively large positive deviation from trend in real GDP.
B) small positive deviation from trend in real GDP.
C) small negative deviation from trend in real GDP.
D) relatively large negative deviati

Ao9   193   3 Replies

Gordis

The defining feature of business cycles is that they

The defining feature of business cycles is that they

The defining feature of business cycles is that they
A) are fluctuations about trend in real GDP.
B) represent the underlying trend of real GDP in the economy.
C) measure prospects for future growth in the economy.
D) are inherent

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Gordis

Problems with interpreting the unemployment rate as a measure of labor market tightness include

Problems with interpreting the unemployment rate as a measure of labor market tightness include

Problems with interpreting the unemployment rate as a measure of labor market tightness include
A) biases in the CPI.
B) marginally attached workers.
C) dissatisfied workers.
D) those not in the labor force.

Ao9   166   4 Replies

Gordis

In the labor force, we include.

In the labor force, we include.

In the labor force, we include.
A) hospitalized people.
B) people on social security.
C) unemployed people.
D) students,

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Gordis

The government deficit (Multiple Choice Question)

The government deficit (Multiple Choice Question)

The government deficit
A) is equal to disposable income plus the current account surplus.
B) is equal to the government surplus plus taxes minus government spending.
C) is equal to GDP minus GNP.
D) is equal to the negative of gov

Ao9   192   3 Replies

Gordis

National saving minus private saving is equal to

National saving minus private saving is equal to

National saving minus private saving is equal to
A) private disposable income.
B) the current account deficit.
C) interest on the government debt.
D) the government surplus.

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Gordis

Who among the following is considered to be in the labor force?

Who among the following is considered to be in the labor force?

Who among the following is considered to be in the labor force?
A) discouraged workers
B) full-time students
C) retirees
D) unemployed workers

Ao9   146   3 Replies

Gordis