Who of the Following Would Be Classified as Unemployed

question 2

Multiple Choice

Who of the following would be classified as unemployed?

• A) Brenda Smith,an 18-year-old full-time university student.
• B) Mario Faubert,a NHL hockey player at home sick with the flu.
• C) Jack Little,a 21-year-old new college graduate actively looking for his first job.
• D) Sarah Lopez,a public school teacher on vacation.
• E) Amanda Pie,a full-time homemaker.

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Definitions:

GDP Price Index

An indicator reflecting the variation in costs for all newly produced domestic final goods and services within an economy.

Real Gross Domestic Product (GDP)

An inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year, showing true growth.

GDP Price Index

A measure that reflects the prices of all goods and services included in the Gross Domestic Product, indicating the overall level of inflation or deflation in an economy.

Nominal GDP

Gross Domestic Product measured in current prices, without adjustment for inflation.