Exam 19: What Macroeconomics Is All About

If the Consumer Price Index changes from 120 in the year 2012 to 126 in the year 2014,the average rate of inflation per year over this two-year period is approximately

If a countryʹs labour force is 15 million people,and 1 million of those are unemployed,the countryʹs unemployment rate is

Suppose an employer and its employees enter into a wage contract specifying a wage increase of 2%.But suppose that the price level rises by 3% over the course of the contract.In this case,

An example of a topic outside the scope of macroeconomics is

The unemployment rate will understate the true amount of unemployment if

Consider the situations of a lender and a borrower of money.Which of the following situations is most advantageous to the lender?

The table below provides macroeconomic data for a hypothetical economy.Dollar amounts are all in constant-dollar terms. TABLE 19-1 -Refer to Table 19-1.In which years are the factors of production in this economy said to be ʺfully employedʺ?

In macroeconomics,the ʺoutput gapʺ is the difference between

If the Consumer Price Index changes from 120 in year one to 144 in year two,the rate of inflation in the intervening year is

Why is real income for an average Canadian today so much higher than it was for an average Canadian 100 years ago?

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

If a countryʹs labour force is 15 million people,and 1.35 million of those are unemployed,the countryʹs unemployment rate is

Inflation,the rate of change of average prices in the economy,generally

How is Canadaʹs unemployment rate determined?

In macroeconomics,if the value of the national product increases,there is

Economic theory argues that there will be fewer real effects from inflation as long as the

Suppose Canadaʹs exchange rate with the euro rises from 1.2 to 1.4. This rise indicates a(n) ________ of the Canadian dollar, which means it takes ________ Canadian dollars to purchase one euro.

Suppose that a countryʹs population is 30 million and it has a labour force of 15 million people.If 14.5 million people are employed,the countryʹs unemployment rate is

If the price index is P1 in year 1 and P2 in year 3,the average inflation rate per year over this period is calculated as

Economic booms can cause problems as well as create benefits because they are often accompanied by