Question 1

The consumer price index:

Accepted Answer

A)   uses a fixed market basket set in the base year for all subsequent years.
B)   is also called the GDP price index.
C)   measures changes in the prices of a market basket of some 50,000 goods and services.
D)   is adjusted annually for changes in consumer spending patterns.E) All of the above
F) None of the above

Question 2

A college or university graduate using the summer following graduation to search for a job would best be classified as:

Accepted Answer

A)   not officially a member of the labour force.
B)   a part of structural unemployment.
C)   a part of cyclical unemployment.
D)   a part of frictional unemployment.E) A) and C)
F) None of the above

Question 3

The type of unemployment associated with recessions is called:

Accepted Answer

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

Question 4

If the actual GDP is less than potential GDP:

Accepted Answer

A)   potential GDP will fall.
B)   the price level will rise.
C)   investment spending will fall.
D)   the actual unemployment rate will be higher than the natural unemployment rate.E) A) and B)
F) None of the above

Exam 9: Business Cycles, Unemployment, and Inflation

If the actual GDP is less than potential GDP:

Correct Answer
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The consumer price index:

Correct Answer
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The type of unemployment associated with recessions is called:

Correct Answer
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A college or university graduate using the summer following graduation to search for a job would best be classified as:

Correct Answer
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Exam 9: Business Cycles, Unemployment, and Inflation

If the actual GDP is less than potential GDP:

Correct AnswerverifiedShow Answer

The consumer price index:

Correct AnswerverifiedShow Answer

The type of unemployment associated with recessions is called:

Correct AnswerverifiedShow Answer

A college or university graduate using the summer following graduation to search for a job would best be classified as:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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