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

By definition, the labor force participation rate is

The real rate of interest is

During a period of unanticipated inflation, the group that is most likely to benefit is

Fully anticipated inflation occurs when

Suppose that last week 100,000 people lost their jobs or quit. We can say that

If a person is laid off from a job, he is considered by the Bureau of Labor Statistics to be a

A reentrant is an individual

-If 2009 is the base year, what is the price index for a market basket of goods for 2010 in the above table?

The labor force is defined as the number of

Inflation can cause a misallocation of resources because

Unemployment that results from the seasonal pattern of work in specific industries is

If your income rises at 5 percent and inflation has risen at 2 percent, then the purchasing power of your income has

Suppose medical care makes up 5 percent of the CPI index, and that prices rise in the medical care area faster than in the rest of the economy. An elderly couple spends 15 percent of their income on medical care. For this couple, the CPI

What are the costs to society of inflation? Who is harmed by inflation and who benefits?

The term "market basket" means a

New entrants to the labor force usually account for around ________ percent of the unemployed.

-Refer to the above table. You are given information on Jasmin's consumption for 2005 and 2015. Using 2005 as the base year compute the price index for 2015. The index equals

The real interest rate is

Which of the following measures gives the earliest warning of increasing inflation?

Which of the following would NOT be considered unemployed?