Exam 8: Economic Fluctuations, Unemployment, and Inflation

Suppose the population (age 16 and over) of Vietnam is 100 million; 5 million are unemployed, and 40 million hold jobs. The labor force participation rate in Vietnam is

The type of unemployment that occurs because of a recession is called

Older Americans living on a pension and therefore on a fixed income, tend to be made

Evaluate the economic validity of the following statement: "Unemployed resources would not exist if the economy were operating efficiently."

The current U.S. unemployment insurance program

Which of the following about potential GDP is true?

Which of the following would be classified as employed?

At the beginning of a year, decision makers expect the general level of prices to increase at a 3 percent annual rate. The CPI increases from 150 to 154.5 during the year; this is an example of

Teenage unemployment is substantially higher than unemployment among prime-age workers because teenagers

During periods when the inflation rate fluctuates widely,

An individual should continue to spend time searching for a job as long as

When the rate of cyclical unemployment is zero, the

Which of the following would be most likely to reduce the rate of unemployment?

Which of the following is a true statement?

Nicole has just finished high school and started looking for her first job, but has not yet found one. As a result, the unemployment rate

Frictional unemployment

Over the past century, the growth rate of real GDP in the United States has averaged approximately

The value of money

After a particular loan has been paid off, neither the borrower nor the lender has lost purchasing power. Therefore, it must be true that actual inflation was

When people speak of the labor force participation rate, they are actually talking about the percentage of