Académique Documents
Professionnel Documents
Culture Documents
(2015-17)
# Correct Answers: 15 # Incorrect Answers: 10 # Blank Answers:0 Points
Awarded: 14
QN
o
1
Question
Economists define the unemployed as individuals who are
People who are only working part-time, but want to be working full-time, are
classified officially as
counted.
not counted.
People who want to work but have stopped looking for work because they could
not find jobs after actively searching are called
employed.
unemployed.
discouraged workers.
empowered.
In December 2008, the U.S. labour force consisted of 154,447,000 employed and
11, 100, 000 unemployed. The U.S. unemployment rate for December 2008 was
about
3 rises during times of rapid economic growth and falls during times of
slow economic growth.
4 tends to remain the same in books and recessions.
5 none of the above
Correct Answer: 2 Your Answer: 2 Points Awarded: 1
8
Customer service representatives who have lost their jobs as a result of call
centers being out-sourced to India are an example of
structural unemployment.
cyclical unemployment.
frictional unemployment.
voluntary unemployment.
_ unemployment occurs due to a mismatch between the jobs that are available
and the skills of workers seeking jobs.
Structural
Cyclical
Frictional
Voluntary
10
When displaced workers require retraining before entering the labour force again,
it is the result of _ unemployment.
cyclical
frictional
structural
seasonal
voluntary
Correct Answer: 3 Your Answer: 3 Points Awarded: 1
11
In periods when GDP fails to grow at its normal rate, the actual unemployment
rate will be __ than the natural rate of unemployment.
lower
higher
the same
failing faster
12
1
2
3
4
5
Correct Answer: 0 Your Answer: 1 Points Awarded: -0.1
13
14
According to this application (Application 4, Using the CPI to Adjust Social Security
Benefits) if we are overcompensating the elderly for price changes with their
social security payments, then this would
16
Union contracts with built-in cost-of-living adjustments and home mortgages that
vary with the rate of inflation are:
17
Price indexes like the CPI are calculated using a base year. The term base year
refers to:
the most recent year in which the business cycle hit the trough.
18
Suppose the consumer price index (CPI) stands at 250 this year. If the inflation
rate is 10 per cent, then next year's CPI will equal:
250.
260.
275.
500.
19
Consider an economy with only two goods: bread and wine. In 1982, the typical
family bought 4 loaves of bread at 50c per loaf and 2 bottles of wine for $9 per
bottle. In Year X, bread cost 75c per loaf and wine cost $10 per bottle. The CPI for
Year X (using a 1982 base year) is:
100.
115.
126.
130
20
Suppose we shopped for a basket of goods in Year 1 and it cost $350. Suppose
the same basket of goods adds up to $385 in year 2. If we use Year 1 as a base
year, what would be the Year 2 CPI.
35.
90.
100.
110.
135.
Correct Answer: 4 Your Answer: 4 Points Awarded: 1
22
Deflation:
24
25
an underemployed worker.