Exam 7: The Macroeconomy: Unemployment, Inflation, and Deflation

Assume that there was a 5 percent increase in the price of all goods in 2015; if the base year is 2014, then the price index in 2015 will be

Which of the following is NOT a measure of the general level of prices?

The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exception of

When Joe, who is among the highest-paid workers in a field in which there are numerous job openings across the nation, recently became unemployed, his opportunity cost of job search is

To be counted as unemployed in the United States a person has to be

The GDP deflator is

The labor force includes all of the following individuals who are 16 years or older EXCEPT

Full employment means that

Cyclical unemployment is caused by

The real rate of interest is defined as

If 2010 is the base year in the table shown above, what is the price index for the year 2010?

The faster the drop in the purchasing power of money, the faster the

Frictional unemployment is

A person quits her job in order to spend time looking for a better paying job. This is an example of

Inflation is best described as a situation in which

Which of the following price indexes is designed to measure changes in the prices of goods and services purchased by a typical individual?

The labor force participation rate is

Which of the following would NOT be a factor that has contributed to the rising female labor force participation rate?

The labor force is defined as

The period between the trough and the peak of a business fluctuation is called