Question 1

The unemployment rate equals

Accepted Answer

A)  the rate of change in unemployment figures from one period to another. 
B)  the total number of people without jobs in a given period. 
C)  the percentage of the labor force currently unemployed. 
D)  the percentage of the population not currently employed. 
A)  the rate of change in unemployment figures from one period to another. 
B)  the total number of people without jobs in a given period. 
C)  the percentage of the labor force currently unemployed. 
D)  the percentage of the population not currently employed.

Question 2

Explain the CPI bias and how it can distort private contracts and increase government outlays.

Accepted Answer

The CPI bias is the point that the CPI o

Question 3

In the United States in 1996, the population was 265.5 million and the working age population was
200)6 million. There were 133.9 million people in the labor force and 126.7 of them were employed. The unemployment rate equaled .

Accepted Answer

A)  33 percent 
B)  7.2 percent 
C)  5.4 percent 
D)  3.6 percent 
A)  33 percent 
B)  7.2 percent 
C)  5.4 percent 
D)  3.6 percent

Question 4

If a worker is temporarily laid off because the economy is in a recession,

Accepted Answer

A)  the size of the labor force rises. 
B)  frictional unemployment increases. 
C)  structural unemployment increases. 
D)  cyclical unemployment increases. 
A)  the size of the labor force rises. 
B)  frictional unemployment increases. 
C)  structural unemployment increases. 
D)  cyclical unemployment increases.

Question 5

Explain the relationship between real GDP and potential GDP and between the unemployment rate and the natural unemployment rate as the economy moves through a business cycle.

Accepted Answer

Potential GDP is the level of GDP when t

Question 6

Frictional, structural and cyclical unemployment are three classifications of unemployment.

Accepted Answer

A) True 
 B)False

Question 7

ABC news in Australia reported that the average annual wage in 2008 was $13,308. To calculate the real wage rate in Australia, you would need to know

Accepted Answer

A)  Australia's price level in 2008. 
B)  Australia's inflation rate between 2007 and 2008. 
C)  the core inflation rate in Australia in 2008. 
D)  the exchange rate between the US dollar and the Australian dollar. 
A)  Australia's price level in 2008. 
B)  Australia's inflation rate between 2007 and 2008. 
C)  the core inflation rate in Australia in 2008. 
D)  the exchange rate between the US dollar and the Australian dollar.

Question 8

If the CPI basket costs $35 in the base period but costs $42, what is the CPI in the next period?

Accepted Answer

A)  83.3 
B)  20 percent 
C)  120 
D)  $42 
A)  83.3 
B)  20 percent 
C)  120 
D)  $42

Question 9

-In the above table, the unemployment rate is

Accepted Answer

A)  6 percent. 
B)  18 percent. 
C)  29 percent. 
D)  24 percent. 
A)  6 percent. 
B)  18 percent. 
C)  29 percent. 
D)  24 percent.

Question 10

-In the table above, the size of the labor force is

Accepted Answer

A)  80 million. 
B)  42 million. 
C)  40 million. 
D)  46 million. 
A)  80 million. 
B)  42 million. 
C)  40 million. 
D)  46 million.

Question 11

Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment. Matt would be best be considered as

Accepted Answer

A)  included in the economy's "hidden employment." 
B)  frictionally unemployed. 
C)  cyclically unemployed. 
D)  still being employed. 
A)  included in the economy's "hidden employment." 
B)  frictionally unemployed. 
C)  cyclically unemployed. 
D)  still being employed.

Question 12

Unemployment caused by changes in technology is called unemployment.

Accepted Answer

A)  structural 
B)  cyclical 
C)  frictional 
D)  techno 
A)  structural 
B)  cyclical 
C)  frictional 
D)  techno

Question 13

An example of the new goods bias in the CPI is the

Accepted Answer

A)  decreasing popularity of SUVs as the price of gasoline has risen. 
B)  switch from traditional car dealerships to low- cost Internet car buying services. 
C)  introduction of higher quality brakes as standard equipment on new cars. 
D)  introduction of hybrid automobiles, vehicles that were not made until recently. 
A)  decreasing popularity of SUVs as the price of gasoline has risen. 
B)  switch from traditional car dealerships to low- cost Internet car buying services. 
C)  introduction of higher quality brakes as standard equipment on new cars. 
D)  introduction of hybrid automobiles, vehicles that were not made until recently.

Question 14

Cyclical unemployment .

Accepted Answer

A)  grows at the same rate as potential GDP 
B)  is zero at a business- cycle trough 
C)  decreases during a recession 
D)  decreases during an expansion 
A)  grows at the same rate as potential GDP 
B)  is zero at a business- cycle trough 
C)  decreases during a recession 
D)  decreases during an expansion

The unemployment rate equals

Explain the CPI bias and how it can distort private contracts and increase government outlays.

In the United States in 1996, the population was 265.5 million and the working age population was 200)6 million. There were 133.9 million people in the labor force and 126.7 of them were employed. The unemployment rate equaled .

If a worker is temporarily laid off because the economy is in a recession,

Explain the relationship between real GDP and potential GDP and between the unemployment rate and the natural unemployment rate as the economy moves through a business cycle.

Frictional, structural and cyclical unemployment are three classifications of unemployment.

ABC news in Australia reported that the average annual wage in 2008 was $13,308. To calculate the real wage rate in Australia, you would need to know

If the CPI basket costs $35 in the base period but costs $42, what is the CPI in the next period?

-In the above table, the unemployment rate is

-In the table above, the size of the labor force is

Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment. Matt would be best be considered as

Unemployment caused by changes in technology is called unemployment.

An example of the new goods bias in the CPI is the

Cyclical unemployment .

What Is Economics

The Economic Problem

Demand and Supply

Measuring Gdp and Economic Growth

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers: They Keynesian Model

U.S. Inflation, Unemployment, and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

Exam 5: Monitoring Jobs and Inflation

The unemployment rate equals

Explain the CPI bias and how it can distort private contracts and increase government outlays.

In the United States in 1996, the population was 265.5 million and the working age population was 200)6 million. There were 133.9 million people in the labor force and 126.7 of them were employed. The unemployment rate equaled .

If a worker is temporarily laid off because the economy is in a recession,

Explain the relationship between real GDP and potential GDP and between the unemployment rate and the natural unemployment rate as the economy moves through a business cycle.

Frictional, structural and cyclical unemployment are three classifications of unemployment.

ABC news in Australia reported that the average annual wage in 2008 was $13,308. To calculate the real wage rate in Australia, you would need to know

If the CPI basket costs $35 in the base period but costs $42, what is the CPI in the next period?

-In the above table, the unemployment rate is

-In the table above, the size of the labor force is

Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment. Matt would be best be considered as

Unemployment caused by changes in technology is called unemployment.

An example of the new goods bias in the CPI is the

Cyclical unemployment .

What Is Economics

The Economic Problem

Demand and Supply

Measuring Gdp and Economic Growth

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers: They Keynesian Model

U.S. Inflation, Unemployment, and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Filters