Exam 19: What Macroeconomics Is All About

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Suppose a country has an unemployment rate of 20%.If we know the population is 38 million and the labour force is 25 million,then the number of people unemployed must be

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Consider short-run fluctuations in real GDP around its trend value.We can say that such fluctuations are

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Which of the following statements is correct? The real interest rate must be

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In macroeconomics,the "output gap" is the difference between

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If the Consumer Price Index changes from 120 in the year 2016 to 126 in the year 2018,the average rate of inflation per year over this two-year period is approximately

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Suppose the Bank of Montreal wants a 5% real rate of return on all its loans,and anticipates an annual inflation rate of 4%.It should therefore lend its money at a nominal interest rate of

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When macroeconomists use the term "recession" they usually define it as a fall in real GDP that lasts for at least

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How is Canada's unemployment rate determined?

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A worker currently earning $3000 per month has negotiated a 4% wage increase in anticipation of a 4% inflation rate in the next year.Under what scenario will the worker have a higher purchasing power?

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Consider a small economy with 3 individuals where each individual produces and sells $1000 worth of final goods and services.The national income for this economy is

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If constant-dollar national income decreased by $6 billion over a one-year period,then it must be true that

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If the Canadian dollar exchange rate increases,the

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Suppose the unemployment rate is 8.5% and we know that frictional and structural unemployment together account for 5.5%.The cyclical unemployment rate is then

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Suppose 27 million people in a country are employed and 3 million people are unemployed.What is the unemployment rate?

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Suppose a small city has a population of 100 000 and a labour force of 60 000.Employment is 55 000 and 5000 workers are unemployed.How many people are not in the labour force?

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During the 1970s,Canada experienced an unusual pattern of interest rates.What happened during this period?

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