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

Jeff lost his job at an automobile assembly plant because of declining new car sales caused by a weak economy. Casey quit her job at the auto assembly plant to devote all her time to finding a higher paying job. Jeff is:

Which of the following types of unemployment is voluntary, where the person chooses to leave their job?

Which of the following statements is FALSE?

Higher wages arising from higher productivity always cause inflationary pressure.

If in a particular price index the index number for 2011 were 196.0, then it could be concluded that prices in 2011 were:

The economic term for a resource that is available for production but is not being utilized is:

-If year 2 is the base year, the price index number for year 3 is:

The real rate of interest is:

An extended period of hyperinflation in a country would be expected to:

Explain why economic statistics do not tell the whole story about a country's well-being.

When economists refer to unemployed resources they mean unutilized:

From 1970 through 2008 the overall U.S. participation rate increased from 60.4% to 65.8%. The primary factor behind this increase was the increasing participation rates of:

The price index that measures changes in the prices of goods that businesses buy for further processing or sale to customers is the:

The price index that measures changes in the prices of goods and services that households typically purchase is the:

Disinflation is:

Productive activities that are not reported for tax purposes and are not included in GDP are referred to as:

Given the following price index, what is the percentage change in prices for this market basket of goods from year 2 to year 5?

-Between year 2 and year 3 real GDP:

Fixed income earners feel the impact of inflation less when their incomes have COLA provisions.

Why is an increase in a nation's output that results from a decrease in unemployment not considered economic growth?