Exam 14: Unemployment and Inflation

What effect does the payment of government unemployment benefits have on the unemployment rate? _____________________________________________________________________________________________ _____________________________________________________________________________________________

Discuss the likely impact of each of the following on the unemployment rate: a.The length of time workers are eligible to receive unemployment benefit payments is reduced. b.The government passes a law making trade unions illegal. c.The minimum wage is raised by 50%. d.The government funds an Internet site where companies can post job openings at no charge. _____________________________________________________________________________________________ _____________________________________________________________________________________________

The ________ is the total number of people aged 15 years and over,and the ________ is the number of people either employed or unemployed.

Which of the following can cause cost-push inflation if the economy is currently in equilibrium at full-employment GDP?

'Inflation' is an increase in the

Unemployment benefits paid to the unemployed

Why are jobs continually being created and destroyed in the economy? _____________________________________________________________________________________________ _____________________________________________________________________________________________

What do economists call the short-term unemployment arising from the process of matching workers with jobs?

Which of the following statements is false?

If the number employed is 12 million,the working-age population is 16 million,and the number unemployed is 0.7 million,then the unemployment rate is -.

Which of the following will not lower the official measure of the unemployment rate?

An example of a 'seasonally unemployed' worker would be a

Which of the following individuals would be most negatively affected by 'anticipated inflation'?

What is 'hyperinflation'? _____________________________________________________________________________________________ _____________________________________________________________________________________________

A woman who quit her job to search for a job that better utilises her skills represents an example of -.

The most widely used measure of inflation is based on which of the following price indices?

What effect do unemployment benefits have on job search? _____________________________________________________________________________________________ _____________________________________________________________________________________________

In Australia,between 1978 and 2016,the net number of

If the anticipated rate of inflation is 5% and workers agree to a wage increase of 4%,if the anticipated rate occurs,then nominal wages will

In 1986,an Apple IIe computer with 65 kilobytes of memory cost around $1 500.Today,a $1 500 iMac computer (also made by Apple)comes with 8 gigabytes of memory.This illustrates the potential for what kind of bias in CPI calculations?