Exam 6: Macroeconomic Measurements, Prices and Unemployment

In an economy with a population of 100 million persons,44 million hold civilian jobs and 6 million are not working but are looking for jobs.The unemployment rate is

Exhibit 6-2 -Refer to Exhibit 6-2.The labor force participation rate in year 1 is

Suppose the civilian non-institutional population equals 250,000;there are 132,500 employed persons and 10,000 unemployed persons.How many people are not in the labor force?

In an economy with a population of 100 million persons,50 million hold civilian jobs and 20 million are not working but are looking for a job.The number of persons in the civilian labor force is

Look at the following data: Employed persons = 110 million;civilian labor force = 135 million persons;civilian noninstitutional population = 190 million.The unemployment rate is __________ percent and the employment rate is __________ percent.

Exhibit 6-2 -Refer to Exhibit 6-2.How many people are not in the labor force in year 4?

A movie star was paid $1 million in 1960 to do a movie.The CPI was 29.3 in 1960 and the CPI in 2012 was 226.665.Approximately how much did the movie star earn in 2012 dollars?

The unemployment due to changes in the types of skills employers require is called __________ unemployment.

Exhibit 6-2 -Refer to Exhibit 6-2.How many people are not in the labor force in year 2?

Exhibit 6-2 -Refer to Exhibit 6-2.How many unemployed persons are there in year 4?

The CPI in the base year is necessarily 100.

Assume that Ms.Sawyer's salary is $22,000,up from $20,000 last year,while the CPI is 165 this year,up from 150 last year.This means that Ms.Sawyer's real income has

In an economy with 100 million people,70 million hold civilian jobs and 19 million are not working but are looking for jobs.The unemployment rate is

If there are 10 job losers,12 job leavers,13 reentrants,and 12 new entrants,then there are __________ unemployed persons.

At the time of Elise's 20 year high school reunion she was earning $50,000 and the CPI was 80.Now that it is time for her to attend her 25 year high school reunion,Elise's income has risen to $80,000 and the CPI is 150.At her 25 year reunion,can Elise rightfully brag that her real income has risen since the last time she saw her former classmates five years ago?

Exhibit 6-2 -Refer to Exhibit 6-2.The employment rate in year 1 is

In year 1 the CPI is 181,and in year 2 the CPI is 195.If Dennis's salary was $95,000 in year 1,what is the minimum salary he must earn in year 2 to "keep up with inflation"?

Exhibit 6-1 -Refer to Exhibit 6-1.Prices rose by __________ percent from Year 4 to Year 5.

The answer is "a person employed in the civilian labor force who quits his or her job." The question is:

If a person worked at least 15 hours per week as an "unpaid" worker on a family farm,how is she classified?