A Measure That Economists Use in Order to Keep Track

question 105

Multiple Choice

A measure that economists use in order to keep track of employment is

• A) the price level
• B) real GDP per person
• C) real GDP
• D) the growth rate of output
• E) the unemployment rate

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Definitions:

Probable Likelihood

The significant chance or high probability that an event will occur, often used in risk assessment.

Quick Ratio

A liquidity metric that indicates a company's capacity to pay off its short-term liabilities with quick assets (cash, marketable securities, and receivables).

Interest Calculations

The process of determining the cost of borrowing money or the gain on saved or invested money over a period, typically expressed as a percentage of the principal.

Journalize

The process of recording transactions in a journal or diary in accounting, which includes the date, accounts affected, and amounts, followed by a brief description of the transaction.