Exam 6: Business Cycles and Unemployment

The economy is considered to be at full employment when:

Which of the following offers an example of structural unemployment?

Economists usually use the term "recession" to refer to:

What generally causes the business cycle? What are the four phases of a single business cycle? What are the problems associated with the business cycle?

Mallory Trammell is a homemaker. Last week, she was busy with her normal household chores. She is:

Structural unemployment is frequently caused by:

Exhibit 6-2 Unemployment categories The unemployment rate for the economy in Exhibit 6-2 is:

Unemployment caused by people voluntarily quitting work in order to seek more attractive employment is called:

Since 1929, real GDP in the United States has grown at an average annual rate of about:

Variables that change before real GDP changes are measured by the:

Since World War II, the average length of recessions in the United States has been:

The unemployment rate will increase whenever there is a(n):

The government's chief forecasting gauge for business cycles is the:

An example of cyclical unemployment is a(n):

The natural rate of unemployment exists when cyclical unemployment equals zero.

A business cycle is the period of time in which:

Economists use the phrase "business cycle" when referring to fluctuations in:

Elisa Kilhafer, a housewife in St. Louis, Missouri, who claims on a Bureau of Labor Statistics (BLS)survey that she is neither gainfully employed nor looking for work, is, according to the BLS,

Full employment is the rate of employment that results when:

To what does the "GDP gap" refer?