Exam 13: Inflation and unemployment

The economy is fully employed when there is no:

Hysteresis occurs because:

Cost-push inflation is a result of an increase in overspending.

If the CPI increases and the nominal income remains the same:

When hyperinflation occurs:

In an economic expansion,people used their credit cards to purchase many goods.But now the economy is in recession,people must use much of their reduced incomes to pay back debts.If employees manufacturing the goods people used to buy are laid off,they will suffer from:

A ski instructor who is laid off from their job at Mount Hotham over summer would be considered:

A person who has given up searching for work is called:

Full employment means:

Unemployment that occurs from fundamental technological changes in the production,or from the substitution of new goods for customary ones,is known as:

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 of people in the civilian labour force is:

Cyclical unemployment:

Consider a broom factory that permanently closes because of foreign competition.If the broom factory's workers cannot find new jobs because their skills are no longer marketable,then they are classified as:

Sharon was being treated unfairly by her boss,so she stormed off the job and two days later found another position.For two days,Sharon experienced:

The problem with measuring inflation using the CPI is:

An example of frictional unemployment is a/an:

Which one of the following people is not a member of the labour force?

There are four types of unemployment:

The official definition of unemployment:

Real income is: