Exam 10: The Business Cycle

Discuss the reason why economists prescribe a low,but not a zero,unemployment rate.What rate of unemployment do economists point to for a healthy economy?

Which of the following types of unemployment would best characterize a swimming instructor's unemployment during the winter months?

Alternating periods of growth and contraction in real GDP define:

The CPI is used to measure the change in the average price of consumer goods and services.

After graduating from college,it takes Kim several months to find a professional job.This is an example of which type of unemployment?

Which of the following is not one of the three basic measures of macroeconomic performance?

Macroeconomics is the study of the economy as a whole.

Which of the following is likely to reduce the level of structural unemployment?

Since the Great Depression,the United States has experienced a number of recessions but none as severe as the Great Depression.

If relative prices change,then the inflation rate must change.

If the population of a country is 220 million people,its labor force consists of 115 million,and 99 million people are employed,the unemployment rate is:

The study of aggregate economic behavior is referred to as:

The production of goods and services in the U.S.has risen steadily since 1929.

Structural unemployment occurs:

Real income:

An extremely deep and long period of negative economic growth is most accurately called:

All persons over age 16 who are either working for pay or actively seeking paid employment refers to:

People are unemployed if they are over 16 and not working due to:

If the number of dollars you receive every year is the same,but prices are rising,then your nominal income:

An important measure of macroeconomic performance is the growth of GDP.