Unemployment produced by fluctuations in economic activity

Assignment Help Microeconomics

Reference no: EM13769713

1. Business cycles occur when output
A. falls below its potential
B. rises above its potential
C. fluctuates around its growth trend
D. is fixed at its potential

2. Which of these statements best describes a complete individualbusiness cycle?
A. Movement from peak to trough to peak
B. Movement from recession to expansion
C. Movement from peak to recession totrough
D. Movement from trough to expansion thento peak

3. During the business cycle, the period between the point at whichoutput reaches a high anthepoint at which it reaches a low iscalled
A. a peak
B. a trough
C. an expansion
D. a recession

4. Which of the following equals the market value of all final goodsand services produced in an economy, stated in the prices of aspecific base year?
A. Nominal GNP
B. Nominal GDP
C. Real GNP
D. Real GDP

5. Imagine a country has a population of 210 million. Within thecountry there are 95 million people who are employed workers, 50million people incapable of working, and 60 million people capable ofworking, but not actively looking. Based on this information, what isthe unemployment rate?
A. 5%
B. 3%
C. 7%
D. 9%

6. The unemployment produced by fluctuations in economic activity is called
A. cyclical unemployment
B. frictional unemployment
C. natural unemployment
D. structural unemployment

7. New college graduates are most likely to experience
A. frictional unemployment
B. cyclical unemployment
C. natural unemployment
D. structural unemployment

8. The natural rate of unemployment is defined as the
A. highest sustainable rate of unemployment achievable under existing conditions
B. unemployment rate that is consistent with the economy operating at its potential output
C. unemployment rate at which there is no cyclical unemployment
D. the rate of unemployment that should exist according to policy makers

9. The Consumer Price Index (CPI) is based on
A. surveys of retail store sales
B. a broad index of all items in GDP surveys of the prices of items in a market basket
C. surveys of the prices of items in a market basket
D. Bureau of Labor Statistics estimates of price changes

10. Unanticipated inflation is a problem for society because it rewards lenders at the expense of borrowers
A. rewards lenders at the expense of borrowers
B. increases real profits in the short term rewards savers at the expense of spenders
C. benefits borrowers at the expense of lenders
D. benefits borrowers at the expense of lenders

Reference no: EM13769713

Questions Cloud

What is the process by which dna replicates : In your own words, describe and explain the components and arrangement of DNA. In your own words, what is the process by which DNA replicates? In your own words, what is the relationship between DNA, genes, and chromosomes? Explain

Create a static web page that includes the basic structure : Create a static Web page that includes the basic structure of a valid HTML (not XHTML) document. Make sure to include the language attribute of the html element and the character set attribute of the metadata element

Prepare a powerpoint presentation on topic of your choice : Prepare a PowerPoint presentation or applicable media on the topic of your choice. Use the following criteria, as outlined in your textbook: Closing and agenda slides, Back-up slides and Connector slides.

The effects of police interventions on hot spots : What kind of validity threats should researchers be especially attentive to in studying the effects of police interventions on hot spots?

Unemployment produced by fluctuations in economic activity : During the business cycle, the period between the point at whichoutput reaches a high anthepoint at which it reaches a low is called - equals the market value of all final goodsand services produced in an economy, stated in the prices of aspecific b..

Define the database life cycle : Per the text, the Database Life Cycle includes the Database Initial Study, Database Design, Implementation and Loading, Testing and Evaluation, Operation, and Maintenance and Evolution phases.

Which of the entries below will be interpreted as numbers : There are several ways you might think you could enter numbers in WebAssign, that would not be interpreted as numbers. N.B. There may be hints in RED!!! You cannot have commas in numbers. You cannot have a space in a number. You cannot substitute the..

Describe and discuss police discretion : Describe and discuss police discretion, and the various control mechanisms available i.e., internal control mechanisms, external control mechanisms, control by the citizens, legislative control, and control by the courts.

Research the history of drug use and abuse : Research the history of drug use, abuse, and ADDICTION as it has developed over the centuries. Address the following in 750-1,000 words: Historically, which drugs have had the biggest impact on the world? Explain

User Account

All Pages