Reference no: EM132350969

ESTIMATE TOTAL ECONOMIC OUTPUT

1.To find the number of people in the labor force we need to add the ________________________ and the ___________________________.

2.To find the unemployment rate we need to divide the __________________ by the _______________________.

3.This misery index is found by adding the ______________________ and the __________________.

4.Compute the unemployment rate given the following information: 8 million unemployed and 117 million employed.

5.How much would the nominal interest rate be if the real interest rate were 6-percent and the expected rate of inflation were 7-percent?

6.If the CPI is currently 178.9, by what percentage did prices rise since the base year?

7.If the rate of inflation is 5-percent, the prime rate of interest is 6-percent, and the unemployment rate is 7-percent, how much is the misery index?

8.If the CPI fell from 180 to 150, by what percentage did the price level fall?

9.If the unemployment rate is 10-percent, there are 150 million people in the labor force, and there are 5 million discouraged workers, how many people are unemployed?

10.If the unemployment rate is 10-percent and 90 million people are working, how many people are unemployed?

11.What are the four types of unemployment?

12.What are the four causes of unemployment?

13.Natural Unemployment = ________________________ + ____________________________________.

14.What type of unemployment describes workers who have mismatched job skills?

15.What type of unemployment results when our economy contracts?