Exam 5: Unemployment and Inflation

Using a broader measure of the unemployment rate where discouraged workers and part-time workers who wished to work full time were counted as unemployed, you would expect this unemployment rate to ________ compared to the Statistics Canada measured unemployment rate.

When the labour market is at full employment

The labour force participation rates of women have rapidly increased since 1976.

The Employment Insurance program has which of the following effects?

Frictional unemployment is the result of

Suppose that homemakers are included as employed in the labour force statistics, rather than being counted as out of the labour force.This would

The Employment Insurance program

An increase in Employment Insurance payments would, in effect, ________ the amount of time spent searching for a job, which would increase ________ unemployment.

We say that the economy is at full employment if the unemployment rate is equal to

Explain how the CPI is constructed.

Table 5.15 -Refer to Table 5.15.Looking at the table above, real average hourly earnings in 2015 were

If your nominal wage rises more slowly than the price level, we can say your real wage has ________ and the purchasing power of a dollar has ________.

From 1981 until 2014 , the labour force participation rate for adult men has ________ and for adult women has ________.

What are the three main kinds of unemployment?

The inflation rate measures the percentage increase in the price level from one year to the next.

You agree to lend $1,000 for one year at a nominal interest rate of 10%.You anticipate that inflation will be 4% over that year.If inflation is instead 3% over that year, which of the following is true?

Workers laid off as a result of a recession suffer

The GDP deflator is the best measure that reflects the prices of goods and services purchased by the typical household.

Inflation that is ________ than what is expected benefits ________ and hurts ________.

An increase in cyclical unemployment will result in