ECO/100 ECO100 ECO 100 CHAPTER 12 A QUIZ

ECO 100 CHAPTER 12 A QUIZ

Chapter 12-A

 

Text Exercise 2.1

   

The three key types of unemployment are

  1. ​cyclical, natural, and full.
  2. ​cyclical, frictional, and structural.
  3. ​frictional, natural, and total.
  4. none of the above.

 

Text Exercise 3.3

   

The effects of unemployment today may carry over into the future because

  1. discouraged workers are not measured in the unemployment rate.
  2. a person must be actively seeking work to be counted as unemployed.
  3. those that experience prolonged unemployment lose job skills that are difficult to recover.
  4. none of the above.

 

Text Exercise 1.5

   

New Government Employment and True Unemployment. Suppose the U.S. government hires workers who are currently unemployed but does not give them any work to do. What will happen to the measured U.S. unemployment​ rate?

The unemployment rate will _________

.

Under these​ circumstances, do changes in the measured U.S. unemployment rate accurately reflect changes in the underlying economic situation and​ production?

  1. GDP will remain unchanged and the underlying economic situation will not have improved.
  2. GDP will remain unchanged though the underlying economic situation will have improved.
  3. GDP will increase though the underlying economic situation will not have improved.
  4. GDP will increase and the underlying economic situation will have improved.

 

Text Exercise 6.1

   

Inflation that is expected is known as __________  inflation.

 

Text Exercise 6.2

   

​Shoe-leather costs typically increase with the rate of inflation.

___________

 

Text Exercise 5.1

   

If a price index is ____ in 1998 and 60 in​ 1999, the rate of inflation between the two years is percent. ​(Enter your response rounded to one decimal​ place.)

 

Text Exercise 4.3

   

Unlike the​ CPI, the​ chain-weighted price index for GDP does not include used goods or

______________  goods.

 

Text Exercise 4.1

   

The value of a price index in the base year is equal to ​(Enter your response as an​ integer.)

 

Text Exercise 2.2

   

The natural rate of unemployment consists solely of

  1. frictional and cyclical unemployment.
  2. frictional and structural unemployment.
  3. cyclical and structural unemployment.
  4. none of the above.

 

Text Exercise 3.1

   

Virtually all unemployment has a duration of more than five weeks.

_________

 

Text Exercise 1.1

   

Which of the following is not included in the labor​ force?

  1. People who are employed.
  2. People who do not have​ jobs, but who are actively searching for one.
  3. People who do not have​ jobs, and do not want one.
  4. None of the above.

 

 

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