Econ 190 Exam 4 Questions with Correct Answers 100% Pass
In the Current Population Survey, a person is considered unemployed if the person - Answers does not
have a job and is actively looking for a job.
Phillip is a 22-year old who has no job and is available for work, but has not actively looked for a job in
the last month. The Current Population Survey identifies Phillip as ________ , ________ the labor force,
and ______woth I__ the working-age population. - Answers unemployed; not part of; part
The labor force is the - Answers number of employed people plus the number of unemployed people.
In calculating the unemployment rate, part-time workers over the age of 16 are counted as - Answers
employed.
A marginally attached worker is - Answers someone who does not have a job but is available and willing
to work but has not made specific efforts to find a job during the past 4 weeks.
People who are willing and able to work but are not looking for work because they have been
discouraged by their previous futile efforts are called - Answers discouraged workers.
Part-time workers are defined as people who are working - Answers less than 35 hours per week.
Involuntary part-time workers are not working more hours due to - Answers a lack of training and skills.
During an expansion, the unemployment rate generally - Answers falls
The highest unemployment rate in U.S. history was about - Answers 25 percent in 1933.
Since 1960, the labor force participation rate in the United States has - Answers increased for women
and decreased for men.
Since 1980, the percentage of part-time workers who are part time for economic reasons - Answers
generally increased in recessions and decreased in expansions.
Frictional unemployment is the result of - Answers the normal process of jobs being created and
destroyed.
Jordan recently quit her job as a marketing consultant in Washington, D.C. and is looking for a better-
paying job with an advertising agency in New York. Jordan is considered to be - Answers frictionally
unemployed.
Unemployment benefits in western Europe are more generous than in the United States. As a result,
________ in the United States. - Answers frictional unemployment is lower
Structural unemployment is the result of - Answers technology changes or foreign competition.
, After 15 years with Ford Motor Corporation, one summer Cameron loses his job. His boss explained that
his position has been downsized after the technological advances in automobile production. Cameron is
best considered - Answers structurally unemployed.
Cyclical unemployment includes people who become unemployed from - Answers changes in the
business cycle.
Janae was fired from her job with Microsoft in the 2008-09 recession because Microsoft's sales dipped.
Janae's unemployment would be best classified as - Answers cyclical unemployment.
The CPI is a measure of the - Answers average prices paid by consumers for a fixed basket of goods and
services.
For the CPI to provide an accurate measure of the prices paid by urban consumers, it is necessary to -
Answers have a market basket that is consistent and corresponds to what households actually purchase.
The CPI is calculated by the Bureau of Labor Statistics on a frequency of every - Answers month
The reference base period that the BLS uses to measure the CPI is - Answers 1982-1984.
The value of the CPI for the reference base period is always - Answers 100
The items included in the CPI are - Answers goods and services consumed by the typical urban
household.
The CPI market basket - Answers weights the goods and services according to the budget of an average
urban household.
The formula for the CPI is - Answers Cost of CPI market basket at current period prices ÷ Cost of CPI
market basket at base period prices) × 100.
If the cost of the CPI market basket at current period prices is $1000 and the cost of the CPI market
basket at base period prices is $250, the CPI is - Answers 400.
The inflation rate measures the - Answers percentage change in the CPI from one year to the next year.
Suppose in year 1 the CPI is 90, in year 2 the CPI is 100, and in year 3 the CPI is 110. Then, inflation is -
Answers 11 percent between years 1 and 2.
If the CPI this year is 240 and the CPI in the previous year was 200, what is the annual inflation rate? -
Answers 20.0 percent
The inflation rate between last year and this year was 14 percent. The CPI was 118 this year. What was
the CPI last year? - Answers 103.5
In the Current Population Survey, a person is considered unemployed if the person - Answers does not
have a job and is actively looking for a job.
Phillip is a 22-year old who has no job and is available for work, but has not actively looked for a job in
the last month. The Current Population Survey identifies Phillip as ________ , ________ the labor force,
and ______woth I__ the working-age population. - Answers unemployed; not part of; part
The labor force is the - Answers number of employed people plus the number of unemployed people.
In calculating the unemployment rate, part-time workers over the age of 16 are counted as - Answers
employed.
A marginally attached worker is - Answers someone who does not have a job but is available and willing
to work but has not made specific efforts to find a job during the past 4 weeks.
People who are willing and able to work but are not looking for work because they have been
discouraged by their previous futile efforts are called - Answers discouraged workers.
Part-time workers are defined as people who are working - Answers less than 35 hours per week.
Involuntary part-time workers are not working more hours due to - Answers a lack of training and skills.
During an expansion, the unemployment rate generally - Answers falls
The highest unemployment rate in U.S. history was about - Answers 25 percent in 1933.
Since 1960, the labor force participation rate in the United States has - Answers increased for women
and decreased for men.
Since 1980, the percentage of part-time workers who are part time for economic reasons - Answers
generally increased in recessions and decreased in expansions.
Frictional unemployment is the result of - Answers the normal process of jobs being created and
destroyed.
Jordan recently quit her job as a marketing consultant in Washington, D.C. and is looking for a better-
paying job with an advertising agency in New York. Jordan is considered to be - Answers frictionally
unemployed.
Unemployment benefits in western Europe are more generous than in the United States. As a result,
________ in the United States. - Answers frictional unemployment is lower
Structural unemployment is the result of - Answers technology changes or foreign competition.
, After 15 years with Ford Motor Corporation, one summer Cameron loses his job. His boss explained that
his position has been downsized after the technological advances in automobile production. Cameron is
best considered - Answers structurally unemployed.
Cyclical unemployment includes people who become unemployed from - Answers changes in the
business cycle.
Janae was fired from her job with Microsoft in the 2008-09 recession because Microsoft's sales dipped.
Janae's unemployment would be best classified as - Answers cyclical unemployment.
The CPI is a measure of the - Answers average prices paid by consumers for a fixed basket of goods and
services.
For the CPI to provide an accurate measure of the prices paid by urban consumers, it is necessary to -
Answers have a market basket that is consistent and corresponds to what households actually purchase.
The CPI is calculated by the Bureau of Labor Statistics on a frequency of every - Answers month
The reference base period that the BLS uses to measure the CPI is - Answers 1982-1984.
The value of the CPI for the reference base period is always - Answers 100
The items included in the CPI are - Answers goods and services consumed by the typical urban
household.
The CPI market basket - Answers weights the goods and services according to the budget of an average
urban household.
The formula for the CPI is - Answers Cost of CPI market basket at current period prices ÷ Cost of CPI
market basket at base period prices) × 100.
If the cost of the CPI market basket at current period prices is $1000 and the cost of the CPI market
basket at base period prices is $250, the CPI is - Answers 400.
The inflation rate measures the - Answers percentage change in the CPI from one year to the next year.
Suppose in year 1 the CPI is 90, in year 2 the CPI is 100, and in year 3 the CPI is 110. Then, inflation is -
Answers 11 percent between years 1 and 2.
If the CPI this year is 240 and the CPI in the previous year was 200, what is the annual inflation rate? -
Answers 20.0 percent
The inflation rate between last year and this year was 14 percent. The CPI was 118 this year. What was
the CPI last year? - Answers 103.5
