Exam 12: Business Cycles and Unemployment

Susan Greenberg,who works in a typewriter factory,becomes unemployed because people start buying personal computers instead of typewriters.Susan can best be described as:

The prime rate is a lagging indicator.

Exhibit 12-1 Business cycle -In Exhibit 12-1,the recovery phase of the business cycle can be represented by points:

Economic indicators,like unemployment claims and the average workweek,which change before real GDP changes,are called:

Structural unemployment refers to unemployment resulting from:

Exhibit 12-1 Business cycle -In Exhibit 12-1,the recession phase of the business cycle can be represented by point(s):

The phase of the business cycle that follows a recession is known as the:

Consider an economy made up of 100 people,50 of whom hold jobs,10 of whom are looking for work,and 15 of whom are retired.The unemployment rate is approximately:

The unemployment rate measures the percentage of:

An individual who is employed part time,but is looking for a full-time job is classified as:

Exhibit 12-2 Unemployment categories -Find the BLS's rate of unemployment from the following data: frictional unemployment = 150,structural unemployment = 200,cyclical unemployment = 225,discouraged workers = 25,underemployed workers = 75,fully employed workers = 850,total population = 2,000.

As a general rule,a recession occurs when there is a six consecutive month fall in:

Which of the following will most likely occur during the recessionary phase of a business cycle?

Which of the following is true of the business cycle record of the United States?

Whom does the Bureau of Labor Statistics include in the "discouraged workers" group?

Althea,a brilliant new Ph.D.in economics,has turned down many job offers because she hopes eventually to teach at one of the top 10 universities in her field.The type of unemployment she is experiencing is:

The duration of unemployment is not a leading indicator.

Since 1929,real GDP in the United States has grown at an average annual rate of about:

Unemployment caused by a recession is called:

Full employment occurs when the rate of unemployment consists of: