Exam 8: Economic Fluctuations, Unemployment, and Inflation

Maurice loses his job and decides to sit on the beach rather than looking for work the next few months. Other things the same, the unemployment rate

If unemployment in the United States was approximately 5 percent, most economists would believe that the economy was

Which of the following about unemployment is true?

If the consumer price index (CPI) was 125 at year-end of 2008 and 132.5 at year-end 2009, inflation during 2009 was

Suppose the population (age 16 and over) of Cameroon is 250 million; 10 million are unemployed, and 125 million hold jobs. The employment/population ratio in Cameroon is

Economists use the term "business cycle" to refer to

Which of the following types of unemployment can exist in an economy that is at its potential output level?

Suppose the labor-force participation rate of men is greater in Troy than in Sparta. This could be because the men of Troy

The unemployment rate will decrease whenever there is

What is the natural rate of unemployment, and how does it relate to the concept of potential (or full-employment) GDP?

How will increased usage of the Internet by employers and employees influence the job search process?

The natural rate of unemployment

When real GDP grows more slowly than potential GDP,

Suppose the official unemployment rate is 10 percent. We can conclude without question that

Frictional unemployment is the result of

Which of the following about unemployment is true?

Suppose the population (age 16 and over) of New Zealand is 48 million; 4 million are unemployed, and 40 million hold jobs. Indicate the rate of unemployment and the employment/population ratio of New Zealand.

Answer the following questions: a.What is meant by the term "business cycle"? b.What economic indicators would indicate where the economy is in the business cycle? Explain. c.Give the four phases of the business cycle in their order of occurrence. d.What criterion must be met for our economy to be officially in a recession?

The labor force participation rate of women in the United States has been

The period of declining growth in real GDP between the peak of the business cycle and the trough is called the