Question 1

From 1980 to 2000 the employment-to-population ratio generally ________ and from 2000 to 2014 the ratio generally ________.

Accepted Answer

A)  increased; decreased 
B)  decreased; decreased 
C)  increased; increased 
D)  decreased; increased 
A)  increased; decreased 
B)  decreased; decreased 
C)  increased; increased 
D)  decreased; increased

Question 2

If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the unemployment rate is

Accepted Answer

A)  6.6 percent. 
B)  10 percent. 
C)  9.1 percent. 
D)  7.1 percent. 
A)  6.6 percent. 
B)  10 percent. 
C)  9.1 percent. 
D)  7.1 percent.

Question 3

Define and give an example of how a spell of frictional unemployment can begin.

Accepted Answer

Frictional unemployment is the unemploym

Question 4

Full employment means that

Accepted Answer

A)  no one is unemployed. 
B)  there is no cyclical unemployment. 
C)  there is no cyclical or frictional unemployment. 
D)  there is no structural or frictional unemployment. 
A)  no one is unemployed. 
B)  there is no cyclical unemployment. 
C)  there is no cyclical or frictional unemployment. 
D)  there is no structural or frictional unemployment.

Question 5

Suppose that the price level was 100 in 2011, 110 in 2012, and 130 in 2013. Over these three years

Accepted Answer

A)  deflation occurred at an accelerating rate. 
B)  the inflation rate was positive but slowing. 
C)  prices were stable. 
D)  the inflation rate was positive and accelerating. 
A)  deflation occurred at an accelerating rate. 
B)  the inflation rate was positive but slowing. 
C)  prices were stable. 
D)  the inflation rate was positive and accelerating.

Question 6

In the United States, the inflation rate has

Accepted Answer

A)  remained almost constant over the past 25 years. 
B)  risen and fallen since the 1970s. 
C)  fallen as a result of OPEC oil price hikes. 
D)  risen constantly over the past 30 years. 
A)  remained almost constant over the past 25 years. 
B)  risen and fallen since the 1970s. 
C)  fallen as a result of OPEC oil price hikes. 
D)  risen constantly over the past 30 years.

Question 7

Define and give an example of how a spell of structural unemployment can begin.

Accepted Answer

Structural unemployment arises when chan

Question 8

-In the above table, the size of the labor force is

Accepted Answer

A)  210 million. 
B)  155 million. 
C)  140 million. 
D)  100 million. 
A)  210 million. 
B)  155 million. 
C)  140 million. 
D)  100 million.

Question 9

-If the CPI was 132.5 at the end of last year and 137.5 at the end of this year, the inflation rate over these two years was

Accepted Answer

A)  3.6 percent. 
B)  3.8 percent. 
C)  5.0 percent. 
D)  None of the above answers is correct. 
A)  3.6 percent. 
B)  3.8 percent. 
C)  5.0 percent. 
D)  None of the above answers is correct.

Question 10

-Using the data in the above table, the unemployment rate is

Accepted Answer

A)  4.0 percent. 
B)  4.16 percent. 
C)  5.55 percent. 
D)  28.0 percent. 
A)  4.0 percent. 
B)  4.16 percent. 
C)  5.55 percent. 
D)  28.0 percent.

Question 11

What is a "marginally attached worker"?

Accepted Answer

A marginally attached worker is a person

Question 12

If the CPI for this year is 220 and the CPI for last year was 215, the inflation rate is

Accepted Answer

A)  just over 2 percent. 
B)  5 percent. 
C)  just over 5 percent. 
D)  10 percent. 
A)  just over 2 percent. 
B)  5 percent. 
C)  just over 5 percent. 
D)  10 percent.

Question 13

Suppose the country of Tiny Town experienced frictional unemployment. This frictional unemployment would

Accepted Answer

A)  definitely signal that the country is in a recession. 
B)  be considered a natural occurrence in a growing economy. 
C)  signal that there are more job leavers than job losers. 
D)  signal that the number of discouraged workers is growing. 
A)  definitely signal that the country is in a recession. 
B)  be considered a natural occurrence in a growing economy. 
C)  signal that there are more job leavers than job losers. 
D)  signal that the number of discouraged workers is growing.

Question 14

-The above table shows answers given by people interviewed in the Current Population Survey. Which people are structurally unemployed?

Accepted Answer

A)  A, B, C, and D 
B)  A, B, and C 
C)  B and C. 
D)  A, B, and D 
A)  A, B, C, and D 
B)  A, B, and C 
C)  B and C. 
D)  A, B, and D

Question 15

Between September 2013 and September 2014 the number of economic part-time workers decreased from 7.9 million to 7.1 million. Assuming the change resulted from economic part-time workers transitioning to full-time jobs, this change created

Accepted Answer

A)  no change to the U-3 unemployment rate. 
B)  a decrease to the U-3 unemployment rate. 
C)  an increase to the U-3 unemployment rate. 
D)  an increase in the employment-to-population ratio. 
A)  no change to the U-3 unemployment rate. 
B)  a decrease to the U-3 unemployment rate. 
C)  an increase to the U-3 unemployment rate. 
D)  an increase in the employment-to-population ratio.

Question 16

-Using the data in the above table, the labor force is ________ million.

Accepted Answer

A)  215 
B)  120 
C)  125 
D)  165 
A)  215 
B)  120 
C)  125 
D)  165

Question 17

Unemployment caused by people voluntarily leaving their jobs is classified as

Accepted Answer

A)  part-time unemployment. 
B)  cyclical unemployment. 
C)  frictional unemployment. 
D)  seasonal unemployment. 
A)  part-time unemployment. 
B)  cyclical unemployment. 
C)  frictional unemployment. 
D)  seasonal unemployment.

Question 18

The labor force is the sum of the working-age population and the number of unemployed people.

Accepted Answer

A) True 
 B)False

Question 19

In an economy, 23 million people are employed and 2 million are unemployed, but 5 million part-time workers would prefer full-time work. What is the unemployment rate?

Accepted Answer

A)  23.2 percent 
B)  6.7 percent 
C)  8 percent 
D)  25 percent 
A)  23.2 percent 
B)  6.7 percent 
C)  8 percent 
D)  25 percent

Question 20

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot (new technology)and does not have the skills necessary to help operate the robot?

Accepted Answer

A)  job leaver 
B)  entrant/reentrant 
C)  cyclically unemployed 
D)  structurally unemployed 
A)  job leaver 
B)  entrant/reentrant 
C)  cyclically unemployed 
D)  structurally unemployed

From 1980 to 2000 the employment-to-population ratio generally and from 2000 to 2014 the ratio generally .

If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the unemployment rate is

Define and give an example of how a spell of frictional unemployment can begin.

Full employment means that

Suppose that the price level was 100 in 2011, 110 in 2012, and 130 in 2013. Over these three years

In the United States, the inflation rate has

Define and give an example of how a spell of structural unemployment can begin.

-In the above table, the size of the labor force is

-If the CPI was 132.5 at the end of last year and 137.5 at the end of this year, the inflation rate over these two years was

-Using the data in the above table, the unemployment rate is

What is a "marginally attached worker"?

If the CPI for this year is 220 and the CPI for last year was 215, the inflation rate is

Suppose the country of Tiny Town experienced frictional unemployment. This frictional unemployment would

-The above table shows answers given by people interviewed in the Current Population Survey. Which people are structurally unemployed?

Between September 2013 and September 2014 the number of economic part-time workers decreased from 7.9 million to 7.1 million. Assuming the change resulted from economic part-time workers transitioning to full-time jobs, this change created

-Using the data in the above table, the labor force is ________ million.

Unemployment caused by people voluntarily leaving their jobs is classified as

The labor force is the sum of the working-age population and the number of unemployed people.

In an economy, 23 million people are employed and 2 million are unemployed, but 5 million part-time workers would prefer full-time work. What is the unemployment rate?

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot (new technology)and does not have the skills necessary to help operate the robot?

What Is Economics?

The Economic Problem

Demand and Supply

Measuring GDP and Economic Growth

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

The Business Cycle, Inflation, and Deflation

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

Exam 5: Monitoring Jobs and Inflation

From 1980 to 2000 the employment-to-population ratio generally ________ and from 2000 to 2014 the ratio generally ________.

If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the unemployment rate is

Define and give an example of how a spell of frictional unemployment can begin.

Full employment means that

Suppose that the price level was 100 in 2011, 110 in 2012, and 130 in 2013. Over these three years

In the United States, the inflation rate has

Define and give an example of how a spell of structural unemployment can begin.

-In the above table, the size of the labor force is

-If the CPI was 132.5 at the end of last year and 137.5 at the end of this year, the inflation rate over these two years was

-Using the data in the above table, the unemployment rate is

What is a "marginally attached worker"?

If the CPI for this year is 220 and the CPI for last year was 215, the inflation rate is

Suppose the country of Tiny Town experienced frictional unemployment. This frictional unemployment would

-The above table shows answers given by people interviewed in the Current Population Survey. Which people are structurally unemployed?

Between September 2013 and September 2014 the number of economic part-time workers decreased from 7.9 million to 7.1 million. Assuming the change resulted from economic part-time workers transitioning to full-time jobs, this change created

-Using the data in the above table, the labor force is ________ million.

Unemployment caused by people voluntarily leaving their jobs is classified as

The labor force is the sum of the working-age population and the number of unemployed people.

In an economy, 23 million people are employed and 2 million are unemployed, but 5 million part-time workers would prefer full-time work. What is the unemployment rate?

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot (new technology)and does not have the skills necessary to help operate the robot?

What Is Economics?

The Economic Problem

Demand and Supply

Measuring GDP and Economic Growth

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

The Business Cycle, Inflation, and Deflation

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

From 1980 to 2000 the employment-to-population ratio generally and from 2000 to 2014 the ratio generally .