Exam 18: Introduction to Macroeconomics: Unemployment, Inflation, and Economic Fluctuations

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In recent years,economists have come to believe that full employment in the U.S.economy occurs at an unemployment rate between:

(Multiple Choice)

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Question 121

Another name for the contractionary phase of a business cycle is recession.

(True/False)

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Question 122

Suppose a consumer buys 10 units of good X and 20 units of good Y every year.The following table lists the prices of goods X and Y in the years 2008-2010.Assume that these two goods constitute the typical market basket.Calculate the price indices for these years with 2008 as the base year.Comment on the inflation picture for these years.

(Essay)

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Question 123

Hometown,USA,has a labor force of 78,567 persons and employment of 74,382.The unemployment rate for the city is:

(Multiple Choice)

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Question 124

Why do economists prefer using the term economic fluctuation rather than business cycle?

(Multiple Choice)

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Question 125

Exhibit 18-1 Refer to Exhibit 18-1.According to the data provided,____ people constitute the labor force.

(Multiple Choice)

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Question 126

A city in which 320,000 persons are employed has a labor force of 359,500 persons.The unemployment rate for the city is:

(Multiple Choice)

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Question 127

Unemployment rises in ,and falls in .

(Multiple Choice)

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Question 128

Which of the following categories account for the smallest fraction of unemployed workers?

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Question 129

experience lower rates of unemployment than do .

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Question 130

The first formal acknowledgement of the primary macroeconomic goals of price stability,high employment,and promoting economic growth in the United States came with passage of the:

(Multiple Choice)

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Question 131

A healthy economy would be characterized by a relatively unemployment rate and a relatively labor force participation rate.

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Question 132

Which of the following individuals would be considered unemployed?

(Multiple Choice)

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Question 133

Real gross domestic product is the total value of all:

(Multiple Choice)

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Question 134

The unemployment rate is calculated as:

(Multiple Choice)

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Question 135

If firms offer an efficiency wage:

(Multiple Choice)

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Question 136

Exhibit 18-1 Refer to Exhibit 18-1.The number of people considered to be out of the labor force is:

(Multiple Choice)

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Question 137

A discouraged worker is:

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Question 138

In November 1995 the labor force in Aberdeen,South Dakota,was 14,800.There were 14,483 persons employed.The local unemployment rate:

(Multiple Choice)

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Question 139

Kathryn chooses to go to college full-time rather than to work.Kathryn:

(Multiple Choice)

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Question 140

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Exam 18: Introduction to Macroeconomics: Unemployment, Inflation, and Economic Fluctuations

In recent years,economists have come to believe that full employment in the U.S.economy occurs at an unemployment rate between:

Another name for the contractionary phase of a business cycle is recession.

Hometown,USA,has a labor force of 78,567 persons and employment of 74,382.The unemployment rate for the city is:

Why do economists prefer using the term economic fluctuation rather than business cycle?

Exhibit 18-1 Refer to Exhibit 18-1.According to the data provided,____ people constitute the labor force.

A city in which 320,000 persons are employed has a labor force of 359,500 persons.The unemployment rate for the city is:

Unemployment rises in ____,and falls in ____.

Which of the following categories account for the smallest fraction of unemployed workers?

____ experience lower rates of unemployment than do ____.

The first formal acknowledgement of the primary macroeconomic goals of price stability,high employment,and promoting economic growth in the United States came with passage of the:

A healthy economy would be characterized by a relatively ____ unemployment rate and a relatively ____ labor force participation rate.

Which of the following individuals would be considered unemployed?

Real gross domestic product is the total value of all:

The unemployment rate is calculated as:

If firms offer an efficiency wage:

Exhibit 18-1 Refer to Exhibit 18-1.The number of people considered to be out of the labor force is:

A discouraged worker is:

In November 1995 the labor force in Aberdeen,South Dakota,was 14,800.There were 14,483 persons employed.The local unemployment rate:

Kathryn chooses to go to college full-time rather than to work.Kathryn:

The Role and Method of Economics

Economics: Eight Powerful Ideas

Scarcity, Trade-Offs, and Production Possibilities

Demand, Supply, and Market Equilibrium

Markets in Motion and Price Controls

Elasticities

Market Efficiency and Welfare

Market Failure

Public Finance and Public Choice

Consumer Choice Theory

The Firm: Production and Costs

Firms in Perfectly Competitive Markets

Monopoly and Antitrust

Monopolistic Competition and Product Differentiation

Oligopoly and Strategic Behavior

The Markets for Labor, Capital, and Land

Income, Poverty, and Health Care

Measuring Economic Performance

Economic Growth in the Global Economy

Financial Markets, Saving, and Investment

Aggregate Demand and Aggregate Supply

The Aggregate Expenditure Model

Monetary Institutions

The Federal Reserve System and Monetary Policy

Issues in Macroeconomic Theory and Policy

International Trade

International Finance

Filters

Unemployment rises in ,and falls in .

experience lower rates of unemployment than do .

A healthy economy would be characterized by a relatively unemployment rate and a relatively labor force participation rate.