FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 5: Monitoring Jobs and Inflation

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 91

Multiple Choice

Review LaterAdd Note

Review Later

If the people who take early retirement are not counted in the working -age population, then

A) the labor force participation rate would be less.
B) the unemployment rate would be lower.
C) the labor force participation rate would be higher.
D) the unemployment rate would be higher.

E) All of the above
F) A) and B)

Correct Answer

verified

Show Answer

Question 92

Multiple Choice

Review LaterAdd Note

Review Later

When cyclical unemployment is zero,

A) the unemployment rate equals the natural unemployment rate.
B) cyclical and frictional unemployment are zero.
C) structural unemployment is zero.
D) frictional unemployment is zero.

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

Correct Answer

verified

Show Answer

Question 93

Essay

Review LaterAdd Note

$\begin{array}{|l|l|}\hline \text { Year } & \text { CPI } \\\hline 1997 & 1525 \\\hline 1998 & 157.0 \\\hline 1999 & 160.6 \\\hline 2000 & 163.1 \\\hline 2001 & 166.7 \\\hline 2002 & 1723 \\\hline\end{array}$ -The table above gives the U.S. CPI for six years. Calculate the inflation rates between 1997 to 1998, 1998 to 1999, 1999 to 2000, 2000 to 2001, and 2001 to 2002.

$\begin{array}{|l|l|}\hline \text { Category } & \begin{array}{l}\text { Number } \\\text { (millions) }\end{array} \\\hline \text { Discouraged workers } & 15 \\\hline \text { Unemployed workers } & 40 \\\hline \text { Employed workers } & 100 \\\hline \text { Population (16 years and over) } & 225 \\\hline\end{array}$ -In the above table, the unemployment rate is

Suppose that the U.S. population is 275 million. Also assume that the labor force is 135 million and that 130 million people are employed. Calculate the unemployment rate.

Define and give an example of how a spell of frictional unemployment can begin.

$\begin{array}{|l|l|l|l|l|}\hline &2010&&2011\\\hline \text { Item } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { Books } & 10 & \$ 30 & 8 & \$ 50 \\\hline \text { Pens } & 20 & \$ 1 & 15 & \$ 2 \\\hline\end{array}$ -In 2010, consumers in Dexter consumed only books and pens. The prices and quantities for 2010 and 2011 are listed in the table above. The reference base period for Dexter?s CPI is 2010. What is the CPI in 2010?

When the economy is operating at full employment, the natural unemployment rate consists of only

When economists speak of full employment, they refer to the case in which the sum of frictional and structural unemployment is

If the Consumer Price Index last year was 110 and 115 this year, the inflation rate is approximately

The labor force is defined as people

$\begin{array} { | l | l | } \hline \text { Year } & \text { Price level } \\\hline 2008 & 91 \\\hline 2009 & 100 \\\hline 2010 & 110 \\\hline 2011 & 121 \\\hline\end{array}$ -In the above table, the inflation rate between 2009 and 2010 is approximately

When a worker quits a job to look for a better job,

An individual with good job prospects who is between jobs is best considered as

The table below shows Vietnam?s price index between 2004 and 2007. $\begin{array} { | l | l | } \hline \text { Year } & \text { Price Index } \\\hline 2004 & 115.15 \\\hline 2005 & 124.65 \\\hline 2006 & 134 \\\hline 2007 & 145.12 \\\hline\end{array}$ From the data, we can conclude that

Is the CPI a biased measure of the inflation rate? Explain your answer.

Catherine quit her job in order to look for a new one; therefore, she is best considered as

Which of the following means that the CPI overstates the actual inflation rate?

$\begin{array} { | c | l | l | l | } \hline \begin{array} { l } \text { Total } \\\text { population } \\\text { (millions) }\end{array} & \begin{array} { c } \text { Currently } \\\text { employed } \\\text { (millions) }\end{array} & \begin{array} { c } \text { Not working } \\\text { and looking for } \\\text { work (millions) }\end{array} & \begin{array} { c } \text { Want to work but } \\\text { no longer looking } \\\text { for work } \\\text { (millions) }\end{array} \\\hline 80 & 40 & 2 & 4 \\\hline\end{array}$ -The labor force participation rate shows the percentage of

Define the unemployment rate and labor -force participation rate. Discuss the differences between these two rates.