Exam 4: Goals and Problems of the Macroeconomy: Employment, Prices and Production

The unemployment rate measures the percentage of the civilian population that is out of work and actively seeking work.

Income stated in terms of current dollars is __________ income.

Inflation coming from the buyers' side of the market is:

Income measured in terms of the amount of goods and services it can purchase is:

The formula for calculating a price index number for a given year is:

A participation rate refers to:

Expectations of future economic conditions:

Changes in the level of prices lead to changes in money GDP but not real GDP.

Real GDP measures the value of production:

Disinflation is a:

Cost-push inflation can result from:

Factors important to economic growth are technological improvements and human capital investments.

Brian quit his job at a local restaurant to return to school full-time. Rachel was laid off after her employer purchased a computer that eliminated her job.

The labor force includes all persons:

Probably the single most important factor contributing to the growth in output per person in the U.S. economy over the last few decades has been:

Increased productivity can benefit the economy by:

What groups in society tend to be hurt most by inflation?

Discuss the relationships between prices, production, and employment.

The dollar figure that measures the value of all finished goods and services produced in the economy in one year is:

If an economy grew at a certain rate and its population grew at a faster rate, output per capita would: