FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 6: Unemployment and Inflation

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 91

Multiple Choice

Review LaterAdd Note

Review Later

-Refer to Table 6.2. The total number of people employed is:

A) 129.67 million.
B) 73.5 million.
C) 128.92 million.
D) 199.5 million.

E) C) and D)
F) None of the above

Correct Answer

verified

Show Answer

Question 92

True/False

Review LaterAdd Note

Review Later

The costs of unemployment are limited to only financial costs.

A) True
B) False

Correct Answer

verified

Show Answer

Question 93

Multiple Choice

Review LaterAdd Note

-Refer to Table 6.12. If 1998 is the base year, the inflation rate between 1998 and 1999 is _______%, and the inflation rate between 1998 and 2000 is _______%.

The increase in unemployment that occurs during recessions and depressions is called:

Suppose that the CPI in 2000 was 102 and the CPI in 2001 was 104. The rate of inflation between 2000 and 2001 was:

-Refer to Table 6.11. If 1999 is the base year, then the inflation rate (i.e., the growth rate of the price index) between 1999 and 2000 is:

In 1999, the U.S. population 16 years old or older was 207.8 million, the number employed was 133.5 million, the number unemployed was 5.9 million, and the labor force was 139.4 million. The unemployment rate in 1999 was _______%.

Suppose the unemployment rate is currently at 5 percent. If the number of unemployed increases by the same number as the number of people unemployed, then:

An increase in search costs will decrease structural unemployment.

-Refer to Table 6.12. If 1998 is the base year, the highest inflation rate is between the years:

If the number of unemployed increases by the same number as the number of people in the labor force, then:

As a result of the deflation experienced by Japan in the 1990s:

When the economy's unemployment rate equals the natural rate, which type of unemployment is assumed to be zero?

Both the CPI and the chain index for GDP overstate actual changes in cost of living due to:

-Answer parts (a) through (e) using Table 6.9 and the following information. Arboc has a population (ages 16 and older) of 2,000,000. The labor- force participation rate is 90%. (a) Based on the information, calculate the number of workers in the labor force. (b) Based on the information, calculate the number of workers unemployed in 1997 (c) Based on the information, calculate the number of workers employed in 1999.

Many economists believe that each year inflation is overestimated by between:

Which of the following statements is false?

A 100% increase in the price of salt changes the CPI more than a 10% increase in rent.

You are an employee of the Bureau of Labor Statistics involved in the monthly survey of households used to estimate the unemployment rate. In each of the following cases, classify the individual as employed, unemployed, or not in the labor force. Explain your classification. (a) During the entire week containing the 12th of the month, Rosie the Riveter misses work simply because she didn't feel like going in to work. (b) Jenny Wren is a volunteer 20 hours a week on a Rape Crisis telephone hotline. She feels she makes an important contribution to society and would not accept a paying job if one was offered to her. (c) McCauley Culkin is a hugely successful film star, age 12, who has earned over $5,000,000 each year for the past five years. Currently, McCauley is filming a new movie on location in Tenerife. (d) Maxwell Edison, a full- time Ph.D. student, is involved in groundbreaking research in fiber optics. His dissertation advisor has already claimed that Maxwell's work will revolutionize telecommunications. (e) Maggie Madd, 84, works 10 hours a week doing cleaning services for her son, Norman Neurotic. He pays her minimum wage.

-Refer to Table 6.1. The unemployment rate is: