Exam 7: Unemployment, Inflation, and Long-Run Growth

Refer to the information provided in Table 7.4 below to answer the questions that follow. Table 7.4 -Refer to Table 7.4. The total number of people employed is

If the labor force is 320,000 and the total population 16 years of age or older is 400,000, the labor-force participation rate is

Refer to the information provided in Table 7.5 below to answer the questions that follow. Table 7.5 -Refer to Table 7.5. The highest inflation rate is between the years

If the unemployment rate is 6.2% and the number of people employed is 200,000, the total number of people unemployed is approximately

Refer to the information provided in Table 7.6 below to answer the questions that follow. Table 7.6 -Refer to Table 7.6. The bundle price for the goods in period 2014 is

Wayne did not look for another job after he lost his current job. As a result the

If the population is growing as fast the economy, then per-capita output is growing.

Which of the following groups over 19 years of age had the highest unemployment rate in the United States in 2015?

If the inflation rate is smaller than the nominal interest rate, the real interest rate is

Lola wants to make an 6% real return on a loan that she is planning to make, and the expected inflation rate during the period of the loan is 5%. She should charge an interest rate of

Refer to the information provided in Table 7.4 below to answer the questions that follow. Table 7.4 -Refer to Table 7.4. The labor force

Related to the Economics in Practice on p. 133: If a retiree's pension is tied to the CPI, her monthly pension check would tend to grow ________ if the pension is tied to the ________ CPI.

Cyclical unemployment is the

The increase in the demand for hybrid vehicles caused manufacturers of hybrid vehicles to increase prices by 20%. This is an example of

If the number of people classified as unemployed is 10,000 and the number of people classified as employed is 300,000, what is the unemployment rate?

Which of the following decreases the real interest rate?

If labor markets were perfectly efficient, the employment rate would rise to 100%.

In June there are 30,000 people classified as unemployed and the size of the labor force is 600,000. The only change between June and July is that 10,000 of the unemployed give up looking for work. Which of the following is true?

For you to be considered out of the labor force, you can be

An unemployment rate of 10% means that the average worker has been unemployed for 10% of the year.