Exam 7: The Macroeconomy: Unemployment, inflation, and Deflation

Unemployment that is caused by business recessions is called

The real rate of interest equals 5% and the expected rate of inflation equals 2%.The nominal rate of interest equals

One major reason that economists are concerned about unemployment is that

The year that is chosen as the point of reference for comparison of prices in other years is known as the

Suppose the population of El Campo is 120,000.Of the population 16 years and older,50,000 are employed,10,000 have never worked and are not looking for work,5,000 are not working and are looking for work,and 15,000 are retired and not looking for work.The labor force equals

Unemployment is measured as

The real rate of interest can be defined as the

If the rate of inflation is 4 percent and the real interest rate is 3 percent,the nominal interest rate should be

Is it possible for the unemployment rate to rise at the same time that the number of people working increases?

The natural rate of unemployment is the rate of unemployment that

Unanticipated positive inflation

Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment.Matt would be

The fact that a number of lifeguards lose their jobs at the end of each summer would be counted as

The average duration of unemployment across the labor force is about

In what ways is the consumer price index flawed?

A decline in business activity is called

If I voluntarily end my employment,the Bureau of Labor Statistics would consider me to be

-In the table shown above,the total cost of the market basket in 2010 was

Which of the following best describes an economy with full employment?

A clause in a contract that automatically increases wages to account for increases in the price level is