Exam 8: Economic Fluctuations, Unemployment, and Inflation

Suppose the population (age 16 and over) of France is 50 million; 4 million are unemployed, and 36 million hold jobs. What are the rates of unemployment and labor force participation of France?

During the early 1990s, many workers in military-related industries lost their jobs as the defense budget was reduced. Unemployment of this type is called

Which of the following about inflation is true?

The actual rate of unemployment will generally

Figure 8-1 In Figure 8-1, the recovery phase of the business cycle can be represented by points:

Which of the following individuals would be considered unemployed by the official government definition?

Andrea would be considered unemployed if she is

Regarding inflation, which of the following is true?

Inflation isn't costly just because prices are going up. After all, inflation means salaries and wages are going up as well. If higher prices are not the problem, discuss two important aspects of inflation that are costly.

Which of the following about inflation is true?

Which of the following about potential GDP is true?

Suppose the population (age 16 and over) of Vietnam is 100 million; 500,000 are unemployed, and 4 million hold jobs. The labor force participation rate in Vietnam is

A person is considered unemployed if she is

The employment/population ratio identifies the proportion of the population age 16 and over that is

When the rate of cyclical unemployment is zero, the

The primary cause of frictional unemployment is

Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number counted as unemployed is

Sophia is tending to her home garden while awaiting recall from her seasonal part-time job. The Bureau of Labor Statistics would classify Sophia as

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

Which of the following would be classified as unemployed?