Question 1

If the number of people unemployed is 100,the number of people employed is 1000,and the working-age population is 1400,then the labor force is

Accepted Answer

A)  1000. 
B)  1100. 
C)  1400. 
D)  1500. 
A)  1000. 
B)  1100. 
C)  1400. 
D)  1500.

Question 2

Suppose that last year the Consumer Price Index was 124; this year it is 130.7.What was the inflation rate between these years?

Accepted Answer

A)  30.7 percent 
B)  6.7 percent 
C)  5.4 percent 
D)  5.1 percent 
A)  30.7 percent 
B)  6.7 percent 
C)  5.4 percent 
D)  5.1 percent

Question 3

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot (new technology) and does not have the skills necessary to help operate the robot?

Accepted Answer

A)  job leaver 
B)  entrant/reentrant 
C)  cyclically unemployed 
D)  structurally unemployed 
A)  job leaver 
B)  entrant/reentrant 
C)  cyclically unemployed 
D)  structurally unemployed

Question 4

The nation's structural unemployment will increase when

Accepted Answer

A)  bad economic policies send the economy into a recession. 
B)  there is influx into the labor market of new college graduates. 
C)  there is an increase in post-Christmas layoffs of workers. 
D)  an increase in textile imports displaces older textile workers who do not have the skills necessary to find new jobs. 
A)  bad economic policies send the economy into a recession. 
B)  there is influx into the labor market of new college graduates. 
C)  there is an increase in post-Christmas layoffs of workers. 
D)  an increase in textile imports displaces older textile workers who do not have the skills necessary to find new jobs.

Question 5

Full employment occurs when

Accepted Answer

A)  there is no cyclical unemployment. 
B)  there is no unemployment. 
C)  there is no frictional unemployment. 
D)  the unemployment rate is less than 5 percent. 
A)  there is no cyclical unemployment. 
B)  there is no unemployment. 
C)  there is no frictional unemployment. 
D)  the unemployment rate is less than 5 percent.

Question 6

The unemployment rate is the ________ who are unemployed.

Accepted Answer

A)  number of people in the labor force 
B)  percentage of people in the labor force 
C)  percentage of people in the country 
D)  percentage of the working-age population 
A)  number of people in the labor force 
B)  percentage of people in the labor force 
C)  percentage of people in the country 
D)  percentage of the working-age population

Question 7

The ________ is calculated as the number of people ________ divided by the labor force multiplied by 100.

Accepted Answer

A)  unemployment rate; unemployed 
B)  employment-to-population ratio; unemployed 
C)  employment rate; employed 
D)  employment-to-population ratio; in the working age population 
A)  unemployment rate; unemployed 
B)  employment-to-population ratio; unemployed 
C)  employment rate; employed 
D)  employment-to-population ratio; in the working age population

Question 8

The table below shows data regarding Germany's labor market. $$\begin{array} { | c | c | c | c | c | } 
\hline \text { Year } & \begin{array} { c } 
\text { Labor Force } \
\text { (millions) }
\end{array} & \begin{array} { c } 
\text { Number of } \
\text { Employed } \
\text { (millions) }
\end{array} & \begin{array} { c } 
\text { Population } \
\text { (millions) }
\end{array} & \begin{array} { c } 
\text { Working-age } \
\text { Population } \
\text { (millions) }
\end{array} \
\hline 2006 & 43.7 & 39.01 & 82.3 & 54.9 \
\hline 2007 & 43.7 & 39.06 & 82.2 & 54.7 \
\hline 2008 & 43.6 & 39.8 & 82.1 & 54.6 \
\hline
\end{array}$$
The data show that Germany's employment-to-population ratio is ________ in 2007.

Accepted Answer

A)  92 percent 
B)  47.5 percent 
C)  67 percent 
D)  80 percent 
A)  92 percent 
B)  47.5 percent 
C)  67 percent 
D)  80 percent

Question 9

Last year the CPI was 177.1 and this year the CPI is 180.9.What was the inflation rate between these two years?

Accepted Answer

The inflation rate e

Question 10

When an individual who has not been working but has been looking for work decides to terminate the search process,the official unemployment rate

Accepted Answer

A)  will fall. 
B)  will rise. 
C)  will remain unchanged. 
D)  may fall or rise depending on whether or not the individual resumes his education. 
A)  will fall. 
B)  will rise. 
C)  will remain unchanged. 
D)  may fall or rise depending on whether or not the individual resumes his education.

Question 11

One way to be considered unemployed is to be without a job and looking for work.

Accepted Answer

A) True 
 B)False

Question 12

$$\begin{array} { | c | c | } 
\hline \text { Year } & \text { Price level } \
\hline 2008 & 91 \
\hline 2009 & 100 \
\hline 2010 & 110 \
\hline 2011 & 121 \
\hline
\end{array}$$
-In the above table,the inflation rate between 2010 and 2011 is approximately

Accepted Answer

A)  10 percent. 
B)  11 percent. 
C)  121 percent. 
D)  None of the above answers is correct. 
A)  10 percent. 
B)  11 percent. 
C)  121 percent. 
D)  None of the above answers is correct.

Question 13

Suppose the population is 220 million people,the labor force is 150 million people,the number of people employed is 130 million and the working-age population is 175 million people.What is the labor force participation rate?

Accepted Answer

A)  0.68 percent 
B)  68 percent 
C)  85.7 percent 
D)  86.7 percent 
A)  0.68 percent 
B)  68 percent 
C)  85.7 percent 
D)  86.7 percent

Question 14

$$\begin{array} { | l | c | } 
\hline \text { Component } & \begin{array} { c } 
\text { Number of people } \
\text { (millions) }
\end{array} \
\hline \text { Under 16 } & 50 \
\hline \text { Working full-time } & 90 \
\hline \text { Working part-time } & 30 \
\hline \text { Retired } & 40 \
\hline \text { Unemployed } & 5 \
\hline
\end{array}$$
-Using the data in the above table,the labor force is ________ million.

Accepted Answer

A)  215 
B)  120 
C)  125 
D)  165 
A)  215 
B)  120 
C)  125 
D)  165

Question 15

$$\begin{array} { | l | c | } 
\hline { \text { Category } } & \begin{array} { c } 
\text { Number } \
\text { (millions) }
\end{array} \
\hline \text { Discouraged workers } & 15 \
\hline \text { Unemployed workers } & 40 \
\hline \text { Employed workers } & 100 \
\hline \begin{array} { l } 
\text { Population (16years and } \
\text { over) }
\end{array} & 225 \
\hline
\end{array}$$
-In the above table,the employment-to-population ratio is

Accepted Answer

A)  51 percent. 
B)  42 percent. 
C)  62 percent. 
D)  44 percent. 
A)  51 percent. 
B)  42 percent. 
C)  62 percent. 
D)  44 percent.

Question 16

Frictional unemployment is the result of

Accepted Answer

A)  technological change or foreign competition. 
B)  normal labor market turnover. 
C)  a slowdown in the rate of economic expansion. 
D)  irresponsible workers with poor work habits. 
A)  technological change or foreign competition. 
B)  normal labor market turnover. 
C)  a slowdown in the rate of economic expansion. 
D)  irresponsible workers with poor work habits.

Question 17

The unemployment rate is 6 percent.If the population is 300 million,and the number unemployed is 6 million and the number employed is 94 million,what is the size of the labor force?

Accepted Answer

The labor force is the sum of

Question 18

The CPI basket contains 400 oranges and 800 pens.In the base year,the price of an orange is $1.00 and the price of a pen is $0.75.This year,urban consumers each buy 300 oranges at $2.00 each and 850 pens at $1.00 each.The CPI this year is ________.

Accepted Answer

A)  1.60 
B)  62.5 
C)  160 
D)  140 
A)  1.60 
B)  62.5 
C)  160 
D)  140

Question 19

The natural unemployment rate ________.

Accepted Answer

A)  is the same from year to year 
B)  is greater than the actual rate of unemployment 
C)  is the unemployment rate when there is no cyclical unemployment 
D)  equals zero 
A)  is the same from year to year 
B)  is greater than the actual rate of unemployment 
C)  is the unemployment rate when there is no cyclical unemployment 
D)  equals zero

Question 20

The unemployment rate is measured as

Accepted Answer

A)  the number of people that want to work but cannot find jobs out of the entire population. 
B)  the percentage of people in the labor force who are unemployed. 
C)  an indicator to determine long-term economic growth. 
D)  an indicator for potential inflation. 
A)  the number of people that want to work but cannot find jobs out of the entire population. 
B)  the percentage of people in the labor force who are unemployed. 
C)  an indicator to determine long-term economic growth. 
D)  an indicator for potential inflation.

If the number of people unemployed is 100,the number of people employed is 1000,and the working-age population is 1400,then the labor force is

Suppose that last year the Consumer Price Index was 124; this year it is 130.7.What was the inflation rate between these years?

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot (new technology) and does not have the skills necessary to help operate the robot?

The nation's structural unemployment will increase when

Full employment occurs when

The unemployment rate is the ________ who are unemployed.

The is calculated as the number of people divided by the labor force multiplied by 100.

Last year the CPI was 177.1 and this year the CPI is 180.9.What was the inflation rate between these two years?

When an individual who has not been working but has been looking for work decides to terminate the search process,the official unemployment rate

One way to be considered unemployed is to be without a job and looking for work.

Year Price level 2008 91 2009 100 2010 110 2011 121 -In the above table,the inflation rate between 2010 and 2011 is approximately

Suppose the population is 220 million people,the labor force is 150 million people,the number of people employed is 130 million and the working-age population is 175 million people.What is the labor force participation rate?

Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40 Unemployed 5 -Using the data in the above table,the labor force is ________ million.

Category Number (millions) Discouraged workers 15 Unemployed workers 40 Employed workers 100 Population (16years and over) 225 -In the above table,the employment-to-population ratio is

Frictional unemployment is the result of

The unemployment rate is 6 percent.If the population is 300 million,and the number unemployed is 6 million and the number employed is 94 million,what is the size of the labor force?

The CPI basket contains 400 oranges and 800 pens.In the base year,the price of an orange is $1.00 and the price of a pen is $0.75.This year,urban consumers each buy 300 oranges at $2.00 each and 850 pens at $1.00 each.The CPI this year is ________.

The natural unemployment rate ________.

The unemployment rate is measured as

What Is Economics

The Economic Problem

Demand and Supply

Measuring GDP and Economic Growth

Economic Growth

Finance, Saving, and Investment

Money, The Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

Inflation, Jobs, and the Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Introduction

Monitoring Macroeconomic Performance

Macroeconomic Trends

Macroeconomic Fluctuations

Macroeconomic Policy

Filters

Exam 5: Monitoring Jobs and Inflation

If the number of people unemployed is 100,the number of people employed is 1000,and the working-age population is 1400,then the labor force is

Suppose that last year the Consumer Price Index was 124; this year it is 130.7.What was the inflation rate between these years?

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot (new technology) and does not have the skills necessary to help operate the robot?

The nation's structural unemployment will increase when

Full employment occurs when

The unemployment rate is the ________ who are unemployed.

The ________ is calculated as the number of people ________ divided by the labor force multiplied by 100.

Last year the CPI was 177.1 and this year the CPI is 180.9.What was the inflation rate between these two years?

When an individual who has not been working but has been looking for work decides to terminate the search process,the official unemployment rate

One way to be considered unemployed is to be without a job and looking for work.

Year Price level 2008 91 2009 100 2010 110 2011 121 -In the above table,the inflation rate between 2010 and 2011 is approximately

Suppose the population is 220 million people,the labor force is 150 million people,the number of people employed is 130 million and the working-age population is 175 million people.What is the labor force participation rate?

Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40 Unemployed 5 -Using the data in the above table,the labor force is ________ million.

Category Number (millions) Discouraged workers 15 Unemployed workers 40 Employed workers 100 Population (16years and over) 225 -In the above table,the employment-to-population ratio is

Frictional unemployment is the result of

The unemployment rate is 6 percent.If the population is 300 million,and the number unemployed is 6 million and the number employed is 94 million,what is the size of the labor force?

The CPI basket contains 400 oranges and 800 pens.In the base year,the price of an orange is $1.00 and the price of a pen is $0.75.This year,urban consumers each buy 300 oranges at $2.00 each and 850 pens at $1.00 each.The CPI this year is ________.

The natural unemployment rate ________.

The unemployment rate is measured as

What Is Economics

The Economic Problem

Demand and Supply

Measuring GDP and Economic Growth

Economic Growth

Finance, Saving, and Investment

Money, The Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

Inflation, Jobs, and the Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Introduction

Monitoring Macroeconomic Performance

Macroeconomic Trends

Macroeconomic Fluctuations

Macroeconomic Policy

Filters

The is calculated as the number of people divided by the labor force multiplied by 100.