Exam 5: Monitoring Jobs and Inflation

Suppose the population is 220 million people, the labor force is 150 million people, the number of people employed is 130 million and the working-age population is 175 million people. What is the unemployment rate?

When economists speak of full employment, they refer to the case in which the sum of frictional and structural unemployment is

-In the above table, the inflation rate between 2013 and 2014 is approximately

The labor force includes

During a recession, people drop out of the labor force because they are unable to find a job. All else the same, this

When the unemployment rate is less than the natural unemployment rate

If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labor force, 10 million unemployed and 150 million employed, the unemployment rate is

In the 1990s, video recordings were made primarily on tapes. However, in the 2000s DVDs became increasingly popular, leading to a sharp decline in video tapes. As a result, many people who manufactured tapes lost their jobs and didn't have the skills necessary to work making DVDs. This occurrence is best consider an example of

Structural unemployment usually lasts longer than frictional unemployment.

The labor force is the sum of the

Because of the biases in calculating the CPI, actual inflation is

Using the official measure of unemployment, which of the following people is considered unemployed?

The percentage of people employed aged 16 years and older divided by the working-age population is known as the

At the end of last year, the CPI equaled 120. At the end of this year, the CPI equals 132. What is the inflation rate over this year?

What is potential GDP and what is the relationship between actual and potential real GDP?

"The bias in the CPI distorts private contracts because a future payment that is linked to the CPI will be raised above the true increase in the price level." Is the previous sentence true or false?

Suppose that the number of jobs in the fishing industry decreases but the number of jobs in the travel industry increases. Initially, ________.

In a country with a working-age population of 300 million, 230 million workers are employed and 40 million workers are unemployed. What is the labor force participation rate?

-Using the information in the table above, calculate the employment-to-population ratio.

A recession causes a decrease in the demand for housing, resulting in substantial layoffs in the construction industry. The people laid off are considered