Exam 6: Measuring Inflation and Unemployment

_____ is a reduction in the rate of inflation.

Dave brags to his dad that his $45,000 starting salary as a computer programmer is much higher than his dad's $28,000 starting salary some years ago. If the consumer price index the year Dave begins work is 180.5 while the consumer price index the year his dad started work was 110.8, Dave is:

(Table) According to the table, what is the labor force of this economy? Population 500 Number employed 300 Number unemployed 50

Which of the following is NOT a reason unemployment rates differ so much within the United States?

Janet is receiving a 5% pay raise. If the rate of inflation is 2%, then Janet's purchasing power is:

The consumer price index does NOT include:

Which of the following would be included in the consumer price index?

If the structural unemployment rate is 3%, the frictional unemployment rate is 2%, and the cyclical unemployment rate is 4%, then the natural rate of unemployment is 9%.

Which of the following activities would NOT qualify a person as being in the labor force?

The inflation rate is 4%. If Social Security payments automatically rise by 4%, this adjustment is authorized by an:

Assume that you read an article for class concerning the U.S. labor market that reports an increase in entrepreneurial activity. To verify this information, you could refer to the:

Cyclical unemployment can be mitigated by keeping the economy on a steady, low-inflationary, solid growth path.

The household survey is a great source of discovering:

The biggest group missing from the reported unemployment rate is:

If Chuck gets laid off from a high paying job and temporarily works as an Uber driver, he is considered:

The misery index is the sum of the unemployment and inflation rates.

Last year, Megan's salary was $65,000 while the consumer price index increased from 109 to 115. If Megan received a cost-of-living adjustment, what would her salary be?

Cathy works part-time as a bookkeeper but would like to have a full-time position. She has been actively searching for months but so far has not found a job. According to the Bureau of Labor Statistics, Cathy is unemployed.

The household survey focuses on the payrolls of businesses and government agencies.

In the United States, the Census Bureau computes the unemployment rate from: