Question 1

Who of the following would be counted as unemployed in Canada?

Accepted Answer

A) Doris only works five hours a week but is looking for a full-time job. 
B) Kanhaya has stopped looking for work since he was unable to find a suitable job during a two-month search. 
C) Sharon is a college student with no job. 
D) Maurice has been laid off from his job for 20 weeks but expects to be called back soon. 
E) Bogdan has been laid off from his job but does not expect to be called back, and is not looking. 
A) Doris only works five hours a week but is looking for a full-time job. 
B) Kanhaya has stopped looking for work since he was unable to find a suitable job during a two-month search. 
C) Sharon is a college student with no job. 
D) Maurice has been laid off from his job for 20 weeks but expects to be called back soon. 
E) Bogdan has been laid off from his job but does not expect to be called back, and is not looking.

Question 2

Which one of the following people is cyclically unemployed?

Accepted Answer

A) a Saskatchewan welder who lost her job when her company relocated to B. C. and is currently looking for a job 
B) a Nova Scotia fishery worker who is searching for a better job closer to home 
C) a steel worker who is laid off but who expects to be called back soon 
D) an office worker who has lost her job because of a general slowdown in economic activity 
E) none of the above 
A) a Saskatchewan welder who lost her job when her company relocated to B. C. and is currently looking for a job 
B) a Nova Scotia fishery worker who is searching for a better job closer to home 
C) a steel worker who is laid off but who expects to be called back soon 
D) an office worker who has lost her job because of a general slowdown in economic activity 
E) none of the above

Question 3

Suppose the working-age population in Tiny Town is 100 people.If 25 of these people are not in the labour force,the ________ equals ________.

Accepted Answer

A) labour force; 75 people 
B) unemployment rate; 25 percent 
C) unemployment rate; 33 percent 
D) employment-to-population ratio; 25 percent 
E) employment-to-population ratio; 75 percent 
A) labour force; 75 people 
B) unemployment rate; 25 percent 
C) unemployment rate; 33 percent 
D) employment-to-population ratio; 25 percent 
E) employment-to-population ratio; 75 percent

Question 4

The three types of unemployment are

Accepted Answer

A) frictional, structural, and involuntary. 
B) voluntary, involuntary, and natural. 
C) voluntary, involuntary, and cyclical. 
D) frictional, structural, and cyclical. 
E) cyclical, maternity leave, and paternity leave. 
A) frictional, structural, and involuntary. 
B) voluntary, involuntary, and natural. 
C) voluntary, involuntary, and cyclical. 
D) frictional, structural, and cyclical. 
E) cyclical, maternity leave, and paternity leave.

Question 5

Which one of the following people is frictionally unemployed? A steel worker who

Accepted Answer

A) loses her job because of technological change. 
B) is laid off but expects to be called back soon. 
C) gives up her job because she retires. 
D) decides to leave the labour force and become a full-time ballet student. 
E) becomes discouraged and stops looking for a job. 
A) loses her job because of technological change. 
B) is laid off but expects to be called back soon. 
C) gives up her job because she retires. 
D) decides to leave the labour force and become a full-time ballet student. 
E) becomes discouraged and stops looking for a job.

Question 6

Unemployment caused by permanently decreased demand for horse-drawn carriages is an example of

Accepted Answer

A) cyclical unemployment. 
B) seasonal unemployment. 
C) frictional unemployment. 
D) structural unemployment. 
E) discouraged unemployment. 
A) cyclical unemployment. 
B) seasonal unemployment. 
C) frictional unemployment. 
D) structural unemployment. 
E) discouraged unemployment.

Question 7

The labour force is

Accepted Answer

A) the total number of people employed. 
B) the total number of people aged 15 years and over. 
C) the total number of people in the working-age population who are employed. 
D) the total number of people in the working-age population who are either employed or unemployed. 
E) none of the above. 
A) the total number of people employed. 
B) the total number of people aged 15 years and over. 
C) the total number of people in the working-age population who are employed. 
D) the total number of people in the working-age population who are either employed or unemployed. 
E) none of the above.

Question 8

Hyperinflation is defined as

Accepted Answer

A) declining inflation rates. 
B) rising but low inflation rates. 
C) very high inflation rates. 
D) very low inflation rates. 
E) an increase in the price level. 
A) declining inflation rates. 
B) rising but low inflation rates. 
C) very high inflation rates. 
D) very low inflation rates. 
E) an increase in the price level.

Question 9

Table 21.3.3
  
-Refer to Table 21.3.3.The IMF World Economic Outlook reports the price level data given in the table.The region with the highest inflation rate in 2007 is ________.The region with the highest inflation rate in 2008 is ________.

Accepted Answer

A) the Euro area; the United States 
B) Japan; the United States 
C) the Euro area; Japan 
D) the United States; Japan 
E) the United States; the Euro area 
A) the Euro area; the United States 
B) Japan; the United States 
C) the Euro area; Japan 
D) the United States; Japan 
E) the United States; the Euro area

Question 10

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

Accepted Answer

A) a 5 percent rise in the cost of living. 
B) a less than 5 percent rise in the cost of living because of consumers substituting away from goods whose relative prices rise towards other goods. 
C) a more than 5 percent rise in the cost of living because of consumers substituting away from goods whose relative prices rise towards other goods. 
D) a less than 5 percent rise in the cost of living because of falling quality of goods over time. 
E) a more than 5 percent rise in the cost of living because of the introduction of new goods. 
A) a 5 percent rise in the cost of living. 
B) a less than 5 percent rise in the cost of living because of consumers substituting away from goods whose relative prices rise towards other goods. 
C) a more than 5 percent rise in the cost of living because of consumers substituting away from goods whose relative prices rise towards other goods. 
D) a less than 5 percent rise in the cost of living because of falling quality of goods over time. 
E) a more than 5 percent rise in the cost of living because of the introduction of new goods.

Question 11

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?

Accepted Answer

A) 3 percent 
B) 4 percent 
C) 5 percent 
D) 7 percent 
E) 8 percent 
A) 3 percent 
B) 4 percent 
C) 5 percent 
D) 7 percent 
E) 8 percent

Question 12

In a country with a working-age population of 22 million,16 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.The employment-to-population ratio is

Accepted Answer

A) 72.7 percent. 
B) 65 percent. 
C) 75.5 percent. 
D) 57.5 percent. 
E) none of the above. 
A) 72.7 percent. 
B) 65 percent. 
C) 75.5 percent. 
D) 57.5 percent. 
E) none of the above.

Who of the following would be counted as unemployed in Canada?

Which one of the following people is cyclically unemployed?

Suppose the working-age population in Tiny Town is 100 people.If 25 of these people are not in the labour force,the equals .

The three types of unemployment are

Which one of the following people is frictionally unemployed? A steel worker who

Unemployment caused by permanently decreased demand for horse-drawn carriages is an example of

The labour force is

Hyperinflation is defined as

Table 21.3.3 -Refer to Table 21.3.3.The IMF World Economic Outlook reports the price level data given in the table.The region with the highest inflation rate in 2007 is .The region with the highest inflation rate in 2008 is .

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

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?

In a country with a working-age population of 22 million,16 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.The employment-to-population ratio is

What Is Economics

The Economic Problem

Demand and Supply

Measuring Gdp and Economic Growth

Economic Growth

Finance,saving,and Investment

Money,the Price Level,and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers: the Keynesian Model

Canadian Inflation,unemployment,and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

Exam 21: Monitoring Jobs and Inflation

Who of the following would be counted as unemployed in Canada?

Which one of the following people is cyclically unemployed?

Suppose the working-age population in Tiny Town is 100 people.If 25 of these people are not in the labour force,the ________ equals ________.

The three types of unemployment are

Which one of the following people is frictionally unemployed? A steel worker who

Unemployment caused by permanently decreased demand for horse-drawn carriages is an example of

The labour force is

Hyperinflation is defined as

Table 21.3.3 -Refer to Table 21.3.3.The IMF World Economic Outlook reports the price level data given in the table.The region with the highest inflation rate in 2007 is ________.The region with the highest inflation rate in 2008 is ________.

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

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?

In a country with a working-age population of 22 million,16 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.The employment-to-population ratio is

What Is Economics

The Economic Problem

Demand and Supply

Measuring Gdp and Economic Growth

Economic Growth

Finance,saving,and Investment

Money,the Price Level,and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers: the Keynesian Model

Canadian Inflation,unemployment,and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

Suppose the working-age population in Tiny Town is 100 people.If 25 of these people are not in the labour force,the equals .

Table 21.3.3 -Refer to Table 21.3.3.The IMF World Economic Outlook reports the price level data given in the table.The region with the highest inflation rate in 2007 is .The region with the highest inflation rate in 2008 is .