Exam 6:Unemployment and Inflation

Table 6.2 The following table lists the basket of goods in the Consumer Price Index for the nation of Astro (Assume 2010 is the base year.) -Using the information in Table 6.2, the inflation rate from 2011 to 2012 is about

Since 1997, the labor force participation rate for women in the United States has

Name the three types of unemployment.

If a person without a job is not actively looking for work, that person is classified as not being in the labor force.

Actual unemployment can fall below the natural rate of unemployment due to

Unemployment insurance typically replaces a worker's full earnings.

In periods when GDP grows very rapidly for a long period, the actual unemployment rate will be ________ than the natural rate of unemployment.

Economists consider an economy to be at "full employment" when

Compared to the natural rate of unemployment, the actual unemployment rate is

Suppose that a price index in Latvia was 120 in 2011 and 150 in 2012. The inflation rate between those two years was approximately

Unemployment occurs even during periods when the economy is growing.

In periods when GDP fails to grow at its normal rate, the actual unemployment rate will be ________ than the natural rate of unemployment.

Suppose an economy consists of 500,000 individuals 16 years and older, 260,000 are employed, and 21,000 are unemployed but actively seeking work. In this example the labor force is

The existence of discouraged workers will lead to an official unemployment rate that is

Recall the Application about the impact of the federal Disability Insurance program on the unemployment rate to answer the following question(s). -According to this Application, the federal Disability Insurance Program has had ________ on the measured unemployment rate.

Table 6.2 The following table lists the basket of goods in the Consumer Price Index for the nation of Astro (Assume 2010 is the base year.) -Using the information in Table 6.2, the percent increase in prices over the two year period from 2010 to 2012 is approximately

Suppose that the chain-weighted index for GDP in Gambia was 275 in 2011 and 350 in 2012. The inflation rate between those two years was approximately

If a large number of workers are classified as being out of the labor force when they are really looking for work, this will lead to an official unemployment rate that is

What is hyperinflation?

Recall the Application about the time involved in including cell phones in the calculation of the CPI to answer the following question(s). -According to this Application, the bias in the CPI would be ________ if new goods are ________ incorporated in CPI calculations.