Exam 11: The Business Cycle, Unemployment, and Inflation

Structural unemployment is unemployment caused by skills that do not match what employers require or from being geographically separated from job opportunities.

(True/False)

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Question 41

Unanticipated inflation benefits lenders at the expense of borrowers.

(True/False)

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Question 42

If Japanese companies provide lifetime employment for workers, the natural rate of unemployment would rise in Japan.

(True/False)

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Question 43

If the U.S. economy encounters a recession, which industry would likely reduce output by the greatest proportion?

(Multiple Choice)

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Question 44

Unemployment insurance provides weekly benefits to workers who have been laid off or who have lost their jobs for reasons other than misconduct or a labor dispute.

(True/False)

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Question 45

The natural rate of unemployment is the economists' notion of full employment.

(True/False)

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Question 46

What is the main way that the U.S. government attempts to mitigate the costs of unemployment in the short run?

(Multiple Choice)

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Question 47

Demand-pull inflation implies that too much money chases too few goods.

(True/False)

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Question 48

Harold used to have a job bolting fenders to automobiles in a Ford assembly plant. Last year, Ford bought robots to do this job, and as a result, Harold was laid off. If all the other auto companies are also now using robots to bolt fenders onto automobiles, Harold is experiencing what type of unemployment?

(Multiple Choice)

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Question 49

According to the text, which part of the world provides workers with a relatively short work week and has inflexible labor markets?

(Multiple Choice)

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Question 50

Because the official unemployment rate does not include discouraged workers, the actual degree of unemployment in the economy tends to be underestimated.

(True/False)

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Question 51

The natural rate of unemployment is the sum of

(Multiple Choice)

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Question 52

A continuing decline in the average price level is known as

(Multiple Choice)

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Question 53

Compared to Europe, labor markets in the U.S. are characterized by

(Multiple Choice)

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Question 54

Demand-pull inflation could be the result of

(Multiple Choice)

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Question 55

The output and employment in the automobile industry tends to be more sensitive to fluctuations in the economy than in the medical care industry.

(True/False)

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Question 56

Regarding output and employment, those industries that produce consumer durables and capital goods are most sensitive to fluctuations in the economy.

(True/False)

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Question 57

Deflation suggests that the rate of inflation is moderating-say, from 6 percent to 4 percent to 2 percent.

(True/False)

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Question 58

Downsizing is an economic phenomenon that has been going on for centuries.

(True/False)

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Question 59

A turning point of the business cycle is the

(Multiple Choice)

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Question 60

Showing 41 - 60 of 87

Structural unemployment is unemployment caused by skills that do not match what employers require or from being geographically separated from job opportunities.

Unanticipated inflation benefits lenders at the expense of borrowers.

If Japanese companies provide lifetime employment for workers, the natural rate of unemployment would rise in Japan.

If the U.S. economy encounters a recession, which industry would likely reduce output by the greatest proportion?

Unemployment insurance provides weekly benefits to workers who have been laid off or who have lost their jobs for reasons other than misconduct or a labor dispute.

The natural rate of unemployment is the economists' notion of full employment.

What is the main way that the U.S. government attempts to mitigate the costs of unemployment in the short run?

Demand-pull inflation implies that too much money chases too few goods.

According to the text, which part of the world provides workers with a relatively short work week and has inflexible labor markets?

Because the official unemployment rate does not include discouraged workers, the actual degree of unemployment in the economy tends to be underestimated.

The natural rate of unemployment is the sum of

A continuing decline in the average price level is known as

Compared to Europe, labor markets in the U.S. are characterized by

Demand-pull inflation could be the result of

The output and employment in the automobile industry tends to be more sensitive to fluctuations in the economy than in the medical care industry.

Regarding output and employment, those industries that produce consumer durables and capital goods are most sensitive to fluctuations in the economy.

Deflation suggests that the rate of inflation is moderating-say, from 6 percent to 4 percent to 2 percent.

Downsizing is an economic phenomenon that has been going on for centuries.

A turning point of the business cycle is the

Scarcity and Choice

Market Transactions: Demand and Supply Analysis

Demand and Supply Applications

Production and the Costs of Production

Competition and Monopoly: Virtues and Vices

Imperfect Competition

Labor Markets

Government and Markets

The Mixed Economy of the United States

Gross Domestic Product and Economic Growth

Macroeconomic Instability: Aggregate Demand and Aggregate Supply

Fiscal Policy and the Federal Budget

Money and the Banking System

The Federal Reserve and Monetary Policy

The United States and the Global Economy

International Finance

Economic Systems and Developing Countries

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