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

The labor force in the United States includes

Which of the following people would be considered unemployed assuming that they are actively seeking employment?

Lois worked for General Motors and was laid off when car sales fell during a recession with falling incomes. This is an example of

Examples of external shocks are all of the following EXCEPT

The long-run trend in business activity is

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

-Using the above table, the labor force is

-Refer to the above figure. A recession is best described as

The labor force participation rate is the

Who are discouraged workers, and how do they affect labor force participation and unemployment rates?

For the CPI. the value of the index in the base year

Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment. Matt would be

The consumer price index (CPI) is a measure of inflation for

Bob's assembly line job has been replaced by robots, and Bob lacks abilities and skills required to attain other jobs. He is considered

Which of the following would be considered an external shock?

-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

Over the last 125 years in the United States, unemployment reached its highest rate

In what ways is the consumer price index flawed?

To be officially counted as unemployed, a person must be

During the Great Depression,