Question 1

What do economists usually use the term "recession" to refer to?

Accepted Answer

A)  two or more consecutive quarters of declining real GDP
B)  any slowdown in the growth of real GDP
C)  zero real GDP growth
D)  a reduction in nominal GDP lasting more than six monthsE) B) and C)
F) A) and D)

Question 2

When unemployment rises above the natural rate,what type of unemployment exists?

Accepted Answer

A)  frictional
B)  seasonal
C)  cyclical
D)  structuralE) All of the above
F) B) and C)

Question 3

If professors lose their positions at universities because of the widespread introduction of courses over the Internet,what would faculty members that remained unemployed be considered?

Accepted Answer

A)  frictionally unemployed
B)  structurally unemployed
C)  cyclically unemployed
D)  underemployedE) A) and B)
F) None of the above

Question 4

Which of the following statements does NOT depict employment insurance?

Accepted Answer

A)  Employment insurance leads to more frictional unemployment as job seekers are unemployed for longer.
B)  Employment insurance does not cover those who have quit their job.
C)  Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees.
D)  Employment insurance compensation increases the opportunity cost of being unemployed.E) C) and D)
F) A) and D)

Question 5

In the nineteenth century,Canadian farmers were ordinarily debtors.Farmers typically borrowed from banks to develop new acreage and to be able to purchase necessary inputs prior to each growing season.Why might farmers generally support public policies that were inflationary?

Accepted Answer

In times of unanticipated infl...

Question 6

What is the term for unemployment caused by a contraction in the economy?

Accepted Answer

A)  seasonal unemployment
B)  structural unemployment
C)  frictional unemployment
D)  cyclical unemploymentE) B) and C)
F) B) and D)

Question 7

If the unemployment rate is 6 percent and the number of persons unemployed is 6 million,how many people are employed?

Accepted Answer

A)  6 million
B)  94 million
C)  100 million
D)  106 millionE) B) and C)
F) A) and D)

Question 8

Suppose you live in a community of 100 people where everyone is able and seeks to work.If 80 people are over 16 years old and 72 of them are employed,what is the unemployment rate in this community?

Accepted Answer

In this community,only 80 peop...

Question 9

What would the development of a nationwide,computerized job-bank listing of all job openings be most likely to reduce?

Accepted Answer

A)  frictional unemployment
B)  cyclical unemployment
C)  structural unemployment
D)  seasonal unemploymentE) B) and C)
F) A) and D)

Question 10

Who does unexpected inflation generally benefit?

Accepted Answer

A)  lenders
B)  low-income earners
C)  people on fixed incomes
D)  borrowersE) C) and D)
F) A) and B)

Exam 5: Introduction to the Macroeconomy

What would the development of a nationwide,computerized job-bank listing of all job openings be most likely to reduce?

Correct Answer
verified

When unemployment rises above the natural rate,what type of unemployment exists?

Correct Answer
verified

What do economists usually use the term "recession" to refer to?

Correct Answer
verified

Who does unexpected inflation generally benefit?

Correct Answer
verified

Which of the following statements does NOT depict employment insurance?

Correct Answer
verified

What is the term for unemployment caused by a contraction in the economy?

Correct Answer
verified

In the nineteenth century,Canadian farmers were ordinarily debtors.Farmers typically borrowed from banks to develop new acreage and to be able to purchase necessary inputs prior to each growing season.Why might farmers generally support public policies that were inflationary?

Correct Answer
verified
In times of unanticipated infl...
View Answer

If professors lose their positions at universities because of the widespread introduction of courses over the Internet,what would faculty members that remained unemployed be considered?

Correct Answer
verified

Suppose you live in a community of 100 people where everyone is able and seeks to work.If 80 people are over 16 years old and 72 of them are employed,what is the unemployment rate in this community?

Correct Answer
verified
In this community,only 80 peop...
View Answer

If the unemployment rate is 6 percent and the number of persons unemployed is 6 million,how many people are employed?

Correct Answer
verified

Exam 5: Introduction to the Macroeconomy

What would the development of a nationwide,computerized job-bank listing of all job openings be most likely to reduce?

Correct AnswerverifiedShow Answer

When unemployment rises above the natural rate,what type of unemployment exists?

Correct AnswerverifiedShow Answer

What do economists usually use the term "recession" to refer to?

Correct AnswerverifiedShow Answer

Who does unexpected inflation generally benefit?

Correct AnswerverifiedShow Answer

Which of the following statements does NOT depict employment insurance?

Correct AnswerverifiedShow Answer

What is the term for unemployment caused by a contraction in the economy?

Correct AnswerverifiedShow Answer

In the nineteenth century,Canadian farmers were ordinarily debtors.Farmers typically borrowed from banks to develop new acreage and to be able to purchase necessary inputs prior to each growing season.Why might farmers generally support public policies that were inflationary?

Correct AnswerverifiedIn times of unanticipated infl...View AnswerShow Answer

If professors lose their positions at universities because of the widespread introduction of courses over the Internet,what would faculty members that remained unemployed be considered?

Correct AnswerverifiedShow Answer

Suppose you live in a community of 100 people where everyone is able and seeks to work.If 80 people are over 16 years old and 72 of them are employed,what is the unemployment rate in this community?

Correct AnswerverifiedIn this community,only 80 peop...View AnswerShow Answer

If the unemployment rate is 6 percent and the number of persons unemployed is 6 million,how many people are employed?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In times of unanticipated infl...
View Answer

Correct Answer
verified

Correct Answer
verified
In this community,only 80 peop...
View Answer

Correct Answer
verified