Exam 5: Monitoring Jobs and Inflation

When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing

The labor force participation rate is

Frictional unemployment comes about because of

The table below shows data regarding Germany's labor market. The data show that Germany's unemployment rate in 2007 was

-The labor force participation rate shows the percentage of

What is the definition of the unemployment rate? How are part-time workers and discouraged workers treated when calculating the unemployment rate?

If a worker is temporarily laid off because the economy is in a recession

If the inflation rate is negative, the price level in an economy is

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?

Which of the following people would be counted as is employed in the Current Population Survey?

If a new and better good replaced an older and less expensive good, then the price level measured by the CPI ________.

Suppose the natural unemployment rate equals 6 percent and the current unemployment rate is 8 percent. We can conclude that

The cost of inflation to society includes

What are the three stages of constructing the CPI?

The best example of a frictionally unemployed individual is

Suppose that the unemployment rate equals 4.5 percent and that the natural unemployment rate is 5.5 percent. We can conclude that

Cyclical unemployment

The unemployment rate is calculated as

If the CPI is 120, this means that

-The table above gives the CPI basket for 2015. Suppose that 2015 is the reference base period. a)What is the cost of the CPI basket in 2015? b)What is the cost of the CPI basket in 2016? c)What is the CPI for 2015? d)What is the CPI for 2016?