1) Which of the following are flows, not stocks? Choose all that apply:

A) Your income
B) Your wealth
C) The interest that you get from that loan you made
D) The value of your home

2) What makes up the difference between net national product and gross domestic product? To arrive at Net National Product, start with GDP, then: Choose all that apply:

A) subtract depreciation.
B) add income receipts from rest of the world.
C) subtract income payments to rest of the world.
D) add income payments to the rest of world.
E) add depreciation.

3) What is the formula with which to calculate the official unemployment rate?

A) The number in the labor force divided by the population
B) The number of people seeking work divided by the number quitting their jobs
C) The number of discouraged workers divided by the number of civilian workers
D) The number of unemployed workers divided by the sum of employed and unemployed workers

4) Complete the following sentence. Calculations of the official unemployment rate exclude:

A) labor force
B) unemployed, but seeking work
C) employed
D) discouraged workers

5) When the macroeconomy is experiencing a higher than natural rate of unemployment, it must be because: Choose all that apply:

A) wages cannot adjust downward quickly and easily.
B) potential real GDP is less than current real GDP.
C) wages respond instantaneously to labor market shifts.
D) current real GDP Is less than potential real GDP.