Exam 9: Unemployment and Inflation

Due to low interest rates,increased banking regulations,and technological change,JPMorgan Chase announced it would ________ the number of persons it employed in 2015 and this would ________ the total number of persons unemployed in the economy.

Table 9-14 The table above reports the nominal average hourly earnings in private industry and the consumer price index for 1965 and 2010. -Refer to Table 9-14.The percentage change in real average earnings from 1965 to 2010 equals

An advantage of the household survey over the establishment survey of the labor market is that the household survey

Which of the following describes a situation in which the person is hurt by inflation?

Figure 9-1 -Refer to Figure 9-1.Based on the graph of the labor market above,if a minimum wage is set at $5 per hour,which of the following will occur?

If the number of unemployed workers is 19 million,the number in the working-age population is 500 million,and the unemployment rate is 4%,what is the labor force participation rate?

The nominal interest rate minus the inflation rate equals the real interest rate.

Suppose that at the beginning of a loan contract,the real interest rate is 4% and expected inflation is currently 6%.If actual inflation turns out to be 7% over the loan contract period,then

Labor unions cause unemployment because the union contract wage is set

Structural unemployment is the result of

Which of the following is the smallest portion of the market basket of goods that makes up the CPI?

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

The costs to firms of changing prices are called

Housing is the largest component of the U.S.CPI market basket.

Which of the following would increase the unemployment rate?

The unemployment rate tends to be higher in the European Union as compared to the United States.

The labor force participation rate equals the

The GDP deflator is the best measure that reflects the prices of goods and services purchased by the typical household.

Table 9-17 -Refer to Table 9-17.Looking at the table above,real average hourly earnings in 2015 were

Except for recessions,the duration of unemployment for the typical person lasts