Exam 9: Unemployment and Inflation

The consumer price index is the

Which of the following would decrease the unemployment rate?

Jack just received a promotion at work and now works 50 hours per week instead of 35.As a result,

If consumers purchase fewer of those products that increase most in price and more of those products that decrease in price as compared to the CPI basket,then

If the number of unemployed workers is 200 million,and the number in the labor force is 500 million,what is the unemployment rate?

A consumer price index of 160 in 1996 with a base year of 1982-1984 would mean that the cost of the market basket

Table 9-15 -Refer to Table 9-15.Looking at the table above,real average hourly earnings were equal to ________ in 2015.

Table 9-15 -Refer to Table 9-15.Looking at the table above,real average hourly earnings in 2014 were

Table 9-23 -Refer to Table 9-23.The table above lists the actual minimum wage and CPI in 1974 and in 2012.Using the above table,calculate the real minimum wage for 1974 and 2012.Calculate the rate of growth of the real minimum wage from 1974 to 2012.Are workers better off in terms of the purchasing power of a dollar in 1974 or 2012? Explain why.

Fill in the missing values in the table of data collected in the household survey for November,2009.The working-age population,employment,unemployment,and labor force are measured in thousands.Show your work.

A central concept in macroeconomics is the idea of the natural rate of unemployment.Why does it make sense to define full employment to occur when the unemployment rate equals the natural rate of unemployment,instead of when the unemployment rate equals zero? Elaborate and explain carefully.

The economy has gone into a recession.You have majored in computer science and,because of the recession,have difficulty in finding a job.Should you go back to school and get a second major?

Table 9-19 -Refer to Table 9-19.Looking at the table above,what is the rate of growth of the average price level from 2015 to 2016?

The advice to "keep searching,there are plenty of jobs around here for which you are qualified," would be most appropriate for which of the following types of unemployment?

Since 1948,the labor force participation rate for adult men has ________ and for adult women has ________.

The unemployment rate is higher with a minimum wage law than it would be without a minimum wage law.

Suppose you obtain a fixed rate mortgage during a period of relatively high inflation.During the next ten years,inflation falls.Are you a winner or a loser due to inflation? Explain why.

Explain whether you agree or disagree with the following statement: "The reason that inflation is bad is because it increases the cost of living - the costs of goods and services we buy - without increasing income in general."

Someone who is available for work but has not actively looked for work in the previous four weeks would be classified as

When the actual inflation rate turns out to be greater than the expected inflation rate,who gains - the borrower or the lender - and who loses? Explain why.