Exam 6: Macroeconomic Measurements, part I: Prices and Unemployment

If the Bureau of Labor Statistics considers Jessica to be a discouraged worker,then she is not counted as unemployed for purposes of computing the official unemployment rate.

A person in the civilian labor force falls into one of two categories:

Suppose that 1983 is the base year for the Consumer Price Index (CPI)and in 2014 the CPI was 220.What does this "220" mean?

If a person worked at least 15 hours per week as an "unpaid" worker in a restaurant owned by her family,how is she classified by the Bureau of Labor Statistics?

If the cyclical unemployment rate is negative,then the

The base year is always the year in which prices were the lowest.

Which of the following statements is false?

In an economy with a population of 100 million persons,50 million hold civilian jobs and 20 million are not working but are looking for a job.The unemployment rate is

If a person is waiting to be called back to a job from which she has been laid off,how is she classified by the Bureau of Labor Statistics?

At the time of Kelsey's 20 year high school reunion she was earning $50,000 and the CPI was 120.Now that it is time for her to attend her 30 year high school reunion,Kelsey's income has risen to $97,000 and the CPI is 230.At her 30 year reunion,can Kelsey rightfully brag that her real income has risen since the last time she saw her former classmates ten years ago?

The sum of the unemployment rate and the employment rate always equals 100 percent.

The employment rate equals the number of

Juan lost his job as a nuclear physicist working for a defense contractor.He can not find a job because no firms in the defense industry or any other industry are hiring people with his skills.Juan is ______________ unemployed.

A seamstress who quits her job in Houston and moves to New York where additional seamstresses are needed is said to be frictionally unemployed.

If the CPI was 196.5 in 2005 and 172.2 in 2000,by what percentage did prices rise during the period 2000-2005?

The unemployment rate equals the

When making historical comparison's of one's income,is it better to use real income or nominal income for the basis of your comparison? Explain why one makes a better comparison than the other.

The civilian non-institutional population can be broken down into two groups:

A(n)__________ is a person who was previously employed,hasn't worked for some time,and is currently reentering the labor force.

"Full employment" is said to exist when the actual unemployment rate is zero.