\[\begin{array} { | l | l | } \hline { \text { Component } } & \begin{array} { l } \text { Number of people } \\ \text { (millions) } \end{array} \\ \hline \text { Under 16 } & 50 \\ \hline \text { Working full-time } & 90 \\ \hline \text { Working part-time } & 30 \\ \hline \text { Retired } & 40 \\ \hline \text { Unemployed } & 5 \\ \hline \end{array}\] -Using the data in the above table, the labor force is __________million.

A) 120 B) 215 C) 165 D) 125 A) 120 B) 215 C) 165 D) 125

\[\begin{array} { | l | l | } \hline { \text { Component } } & \begin{array} { l } \text { Number of people } \\ \text { (millions) } \end{array} \\ \hline \text { Under 16 } & 50 \\ \hline \text { Working full-time } & 90 \\ \hline \text { Working part-time } & 30 \\ \hline \text { Retired } & 40 \\ \hline \text { Unemployed } & 5 \\ \hline \end{array}\] -Using the data in the above table, the unemployment rate is

A) 28.0 percent. B) 5.55 percent. C) 4.0 percent. D) 4.16 percent. A) 28.0 percent. B) 5.55 percent. C) 4.0 percent. D) 4.16 percent.

\[\begin{array} { | l | l | } \hline \text { Person A } & \begin{array} { l } \text { Now that the kids are in school for a full day, this } \\ \text { person } \\ \text { is looking for work and has interviewed for three jobs } \\ \text { during the past two weeks. } \end{array} \\ \hline \text { Person B } & \begin{array} { l } \text { This person has been laid off from a job but expects to } \\ \text { be } \\ \text { called back as soon as the economy improves. } \end{array} \\ \hline \text { Person C } & \begin{array} { l } \text { This person has just graduated from college and will } \\ \text { start a new job in three weeks. In the meantime this } \\ \text { person will tour the great A merican b eaches. } \end{array} \\ \hline \text { Person D } & \begin{array} { l } \text { This person was laid off last year when new } \\ \text { equipment } \\ \text { was installed at the plant, reducing the number of } \\ \text { workers needed.Shortly after beinglaid off, this } \\ \text { person looked for a new job, w as unable to find one } \\ \text { and then stopped looking, even though this person } \\ \text { still wants a job and is available for work. } \end{array} \\ \hline \end{array}\] -The above table shows answers given by people interviewed in a government survey of households. Which individuals are considered unemployed using the official U-3 unemployment rate?

A) B, C, and D B) A, B, and C C) C and D D) A, C, and D A) B, C, and D B) A, B, and C C) C and D D) A, C, and D

\[\begin{array} { | l | l | } \hline { \text { Category } } & \begin{array} { l } \text { Number of people } \\ \text { (millions) } \end{array} \\ \hline \text { Total population } & 246 \\ \hline \text { Working-age population } & 207 \\ \hline \text { Labor force } & 139 \\ \hline \text { Employed } & 133 \\ \hline \text { Unemployed } & 6 \\ \hline \end{array}\] -Based on the information in the above table, what is the unemployment rate? What is the labor force participation rate?

The unemployment rate equals 6 million u

Exam 5: Monitoring Jobs and Inflation

Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40 Unemployed 5 -Using the data in the above table, the labor force is __________million.

(Multiple Choice)

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Question 121

2010 2011 Item Quantity Price Quantity Price Books 10 \ 30 8 \ 50 Pens 20 \ 1 15 \ 2 -In 2010, consumers in Dexter consumed only books and pens. The prices and quantities for 2010 and 2011 are listed in the table above. The reference base period for Dexter?s CPI is 2010. What is the cost of the CPI basket in 2011?

(Multiple Choice)

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Question 122

If the inflation rate is negative, the price level in an economy is

(Multiple Choice)

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Question 123

Bill loses his job as a loan officer when the bank he works for is bought up by a larger financial institution. Bill has the skills necessary to find a new job, so as Bill searches for work he is best considered an example of

(Multiple Choice)

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Question 124

The commodity substitution bias is that

(Multiple Choice)

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Question 125

Which of the following is NOT included in the working-age population?

(Multiple Choice)

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Question 126

At the end of last year, the CPI equaled 120. At the end of this year, the CPI equals 132. What is the inflation rate over this year?

(Multiple Choice)

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Question 127

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot new technology) and does not have the skills necessary to help operate the robot?

(Multiple Choice)

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Question 128

Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40 Unemployed 5 -Using the data in the above table, the unemployment rate is

(Multiple Choice)

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Question 129

A major characteristic of structural unemployment that differentiates it from frictional unemployment is that structural unemployment

(Multiple Choice)

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Question 130

In an economy, 40 million people are employed, 2 million are unemployed, and 8 million are not in the labor force. What is the labor force participation rate?

(Multiple Choice)

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Question 131

Suppose the labor force in Tiny Town is 100 people. If the in Tiny Town is 150 people, the labor force participation rate equals multiplied by 100.

(Multiple Choice)

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Question 132

Structural unemployment is the result of

(Multiple Choice)

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Question 133

Explain what type of unemployment changes with the business cycle and how it changes.

(Essay)

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Question 134

Person A Now that the kids are in school for a full day, this person is looking for work and has interviewed for three jobs during the past two weeks. Person B This person has been laid off from a job but expects to be called back as soon as the economy improves. Person C This person has just graduated from college and will start a new job in three weeks. In the meantime this person will tour the great A merican b eaches. Person D This person was laid off last year when new equipment was installed at the plant, reducing the number of workers needed.Shortly after beinglaid off, this person looked for a new job, w as unable to find one and then stopped looking, even though this person still wants a job and is available for work. -The above table shows answers given by people interviewed in a government survey of households. Which individuals are considered unemployed using the official U-3 unemployment rate?

(Multiple Choice)

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Question 135

Mike has just been laid off from his construction job because consumers are not purchasing new homes because of the recession. Mike would be considered to be part of

(Multiple Choice)

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Question 136

The official U-3 unemployment rate includes the total number of people who

(Multiple Choice)

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Question 137

The Bureau of Labor Statistics reported the data in the table above for October 2003. a) Calculate the number of people unemployed. b) Calculate the number of people who are not in the labor force c) Calculate the unemployment rate. d) Calculate the labor force participation rate.

(Essay)

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Question 138

A recent accounting graduate from a major business school is searching for a place to begin his career as an accountant. This individual is best considered as

(Multiple Choice)

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Question 139

Category Number of people (millions) Total population 246 Working-age population 207 Labor force 139 Employed 133 Unemployed 6 -Based on the information in the above table, what is the unemployment rate? What is the labor force participation rate?

(Essay)

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Question 140

Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40 Unemployed 5 -Using the data in the above table, the labor force is __________million.

If the inflation rate is negative, the price level in an economy is

Bill loses his job as a loan officer when the bank he works for is bought up by a larger financial institution. Bill has the skills necessary to find a new job, so as Bill searches for work he is best considered an example of

The commodity substitution bias is that

Which of the following is NOT included in the working-age population?

At the end of last year, the CPI equaled 120. At the end of this year, the CPI equals 132. What is the inflation rate over this year?

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot new technology) and does not have the skills necessary to help operate the robot?

Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40 Unemployed 5 -Using the data in the above table, the unemployment rate is

A major characteristic of structural unemployment that differentiates it from frictional unemployment is that structural unemployment

In an economy, 40 million people are employed, 2 million are unemployed, and 8 million are not in the labor force. What is the labor force participation rate?

Suppose the labor force in Tiny Town is 100 people. If the in Tiny Town is 150 people, the labor force participation rate equals multiplied by 100.

Structural unemployment is the result of

Explain what type of unemployment changes with the business cycle and how it changes.

Mike has just been laid off from his construction job because consumers are not purchasing new homes because of the recession. Mike would be considered to be part of

The official U-3 unemployment rate includes the total number of people who

The Bureau of Labor Statistics reported the data in the table above for October 2003. a) Calculate the number of people unemployed. b) Calculate the number of people who are not in the labor force c) Calculate the unemployment rate. d) Calculate the labor force participation rate.

A recent accounting graduate from a major business school is searching for a place to begin his career as an accountant. This individual is best considered as

Category Number of people (millions) Total population 246 Working-age population 207 Labor force 139 Employed 133 Unemployed 6 -Based on the information in the above table, what is the unemployment rate? What is the labor force participation rate?

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: the Keynesian Model

U.S Inflation, Unemployment, and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Review

Filters

Exam 5: Monitoring Jobs and Inflation

Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40 Unemployed 5 -Using the data in the above table, the labor force is __________million.

If the inflation rate is negative, the price level in an economy is

Bill loses his job as a loan officer when the bank he works for is bought up by a larger financial institution. Bill has the skills necessary to find a new job, so as Bill searches for work he is best considered an example of

The commodity substitution bias is that

Which of the following is NOT included in the working-age population?

At the end of last year, the CPI equaled 120. At the end of this year, the CPI equals 132. What is the inflation rate over this year?

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot new technology) and does not have the skills necessary to help operate the robot?

Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40 Unemployed 5 -Using the data in the above table, the unemployment rate is

A major characteristic of structural unemployment that differentiates it from frictional unemployment is that structural unemployment

In an economy, 40 million people are employed, 2 million are unemployed, and 8 million are not in the labor force. What is the labor force participation rate?

Suppose the labor force in Tiny Town is 100 people. If the __________in Tiny Town is 150 people, the labor force participation rate equals __________multiplied by 100.

Structural unemployment is the result of

Explain what type of unemployment changes with the business cycle and how it changes.

Mike has just been laid off from his construction job because consumers are not purchasing new homes because of the recession. Mike would be considered to be part of

The official U-3 unemployment rate includes the total number of people who

The Bureau of Labor Statistics reported the data in the table above for October 2003. a) Calculate the number of people unemployed. b) Calculate the number of people who are not in the labor force c) Calculate the unemployment rate. d) Calculate the labor force participation rate.

A recent accounting graduate from a major business school is searching for a place to begin his career as an accountant. This individual is best considered as

Category Number of people (millions) Total population 246 Working-age population 207 Labor force 139 Employed 133 Unemployed 6 -Based on the information in the above table, what is the unemployment rate? What is the labor force participation rate?

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: the Keynesian Model

U.S Inflation, Unemployment, and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Review

Filters

Suppose the labor force in Tiny Town is 100 people. If the in Tiny Town is 150 people, the labor force participation rate equals multiplied by 100.