1 In 2013, a worker - who before worked with a salary of VND 70 million per year - lost his job due to economic slowdown He got a job-loss allowance of VND 30 million His wife started working for BIDV with a salary of VND 17 million Their son increased the amount of support to his parents from VND million to VND 18 million The contribution of this worker’s family to GDP in 2013 was: a increase by VND 53 million b decrease by VND 30 million c increase by 60 millions d none of these Production equals income because a by law firms must pay out all their revenue as income to someone b for every sale there is a buyer and a seller c because ultimately firms are owned by households d None of the above are correct Which of the following is not included in GDP? a unpaid cleaning and maintenance of houses b services such as those provided by lawyers and hair stylists c the estimated rental value of owner-occupied housing d production of foreign citizens living in Vietnam Over time people have come to rely more on market-produced goods and less on goods that they produce for themselves For example, people eat at restaurants relatively more and prepare their own meals at home relatively less By itself this change would: a make GDP fall over time b not make any change in GDP over time c make GDP rise over time d change GDP, but in an uncertain direction The inflation rate is defined as the a price level b change in the price level c price level divided by the price level in the previous period d percentage change in the price level from the previous period 6a In the CPI, goods and services are weighted according to a how much consumers buy of each item b whether the goods and services are necessities or luxuries c the levels of production of the goods and services in the domestic economy d by the expenditures on them in the GDP national income accounts 6b In the GDP deflator, goods and services are weighted according to a how much consumers buy of each item b whether the goods and services are necessities or luxuries c the levels of production of the goods and services in the domestic economy d by the expenditures on them in the GDP national income accounts Use the table below to answer the following questions and Year peaches 2000 $11 per bushel 2001 $9 per bushel pecans $6 per bushel $10 per bushel Suppose that the typical consumer basket consists of 10 bushels of peaches and 15 bushels of pecans and that the base year is 2000 What is the consumer price index for 2001? a 100 b 120 c 200 d 240 What was the inflation rate in 2001? a 20 percent b 16.7 percent c 10 percent d percent Using the model of loanable fund market, analyze the following cases a New investors will have a priority to delay corporate income tax payment for about years b Interest rate for saving accounts is lower due to new policies from the central bank c Tax revenue was improved so that budget balance of the government was also improved 10 Which of the following is incorrect? a The unemployment rate is computed using the number of unemployment insurance claims filed b Each adult included in the unemployment statistics is classified as employed, unemployed, or not in the labor force c Unemployment numbers include people aged sixteen and older d The Bureau of Labor Statistics gathers data on unemployment and employment 11 The labor force equals the a number of people who are employed b number of people who are unemployed c number of people employed plus the number of people unemployed d adult population ANSWER: c number of people employed plus the number of people unemployed TYPE: M DIFFICULTY: SECTION: 15.1 12 Who of the following would be counted as unemployed according to official statistics? a Shasta, who is waiting for her new job to start b Mary, who worked only 35 hours last week c Karen, who neither has a job nor is looking for one d None of the above would be counted as unemployed 13 Who would be included in the labor force? a Holly, an unpaid homemaker b Tiffany, a full-time student not looking for work c Cody, who does not have a job, but is looking for work d None of the above are included in the labor force ANSWER: c Cody, who does not have a job, but is looking for work TYPE: M DIFFICULTY: SECTION: 15.1 14 Who would be included in the labor force? a Karen, who works most of the week in a steel factory b Beth, who is waiting for her new job at the bank to start c Dave, who does not have a job, but is looking for work d All of the above are included in the labor force ANSWER: d All of the above are included in the labor force TYPE: M DIFFICULTY: SECTION: 15.1 15 Who would be included in the labor force? a Derrick, who is waiting for his new job to start b Brett, who has become discouraged looking for a job and has quit looking for awhile c Homer, an unpaid homemaker d None of the above would be included in the labor force ANSWER: a Derrick, who is waiting for his new job to start TYPE: M DIFFICULTY: SECTION: 15.1 16 Sally is on a temporary layoff from the factory where she makes plastic tableware If Sally participates in the BLS survey, she will be classified as a unemployed and in the labor force b unemployed and out of the labor force c employed and in the labor force d employed and out of the labor force ... and 15 bushels of pecans and that the base year is 2000 What is the consumer price index for 20 01? a 10 0 b 12 0 c 200 d 240 What was the inflation rate in 20 01? a 20 percent b 16 .7 percent c 10 ... below to answer the following questions and Year peaches 2000 $11 per bushel 20 01 $9 per bushel pecans $6 per bushel $10 per bushel Suppose that the typical consumer basket consists of 10 bushels... DIFFICULTY: SECTION: 15 .1 14 Who would be included in the labor force? a Karen, who works most of the week in a steel factory b Beth, who is waiting for her new job at the bank to start c Dave, who