Exam 5: Monitoring Jobs and Inflation

Use the table below to answer the following questions. Table 5.2.1 This table shows the answers given by interviewees to the Labour Force Survey. -In Table 5.2.1, which person is cyclically unemployed?

Since 1960, Canadian labour force participation rate has _______ and the unemployment rate has _______.

People become unemployed when they

Which one of the following people would be counted as unemployed in Canada?

If prices at Wendy's rise, more consumers buy their meals at McDonald's and fewer consumers buy their meals at Wendy's.This is an example of

Hyperinflation is defined as

Nominal GDP is $1,800 billion and real GDP is $1,600 billion.The GDP deflator is

Use the table below to answer the following question. Data from Southton -Refer to Table 5.3.2.What is Southton's consumer price index in the current year?

In a recession, typically

Which of the following pieces of information do you need to calculate the labour force participation rate? I.the number of employed persons II.the number of unemployed persons III.the population IV.the working age population

Which one of the following people would be counted as unemployed in Canada?

Which of the following statements is incorrect?

Which one of the following people would be counted as unemployed in Canada?

In a country with a working- age population of 22 million, 18 million are employed, 2 million are unemployed, and 1 million of the employed are working part- time, half of whom wish to work full- time.If 500,000 of the unemployed are cyclically unemployed, what is the natural unemployment rate?

Suppose the economy is experiencing frictional unemployment of 1 percent, structural unemployment of 3 percent and cyclical unemployment of 4 percent.What is the natural unemployment rate?

At full employment, the unemployment rate

If the labour force participation rate is rising and the working- age population is not changing, then the

Use the table below to answer the following questions. Table 5.3.1 Suppose a simple economy produces three goods only.The price and output data for two years are shown below. -Refer to Table 5.3.1.The reference base period is 2017.The CPI in 2017 is

The labour force participation rate is

If there is a 5 percent increase in the CPI, then there will most likely be