Pre-Test Chap 26 e18 - Pre-Test Chap 26 e18 Student 1 Unemployment that occurs when there is deficient demand for the goods and services of an

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Pre-Test Chap 26 e18 Student: ___________________________________________________________________________ 1. Unemployment that occurs when there is deficient demand for the goods and services of an economy is called: A. Frictional unemployment B. Cyclical unemployment C. Structural unemployment D. Natural unemployment 2. If the unemployment rate for the United States economy rises from 7 to 11 percent during a year, we can conclude that: A. Actual GDP exceeds potential GDP B. Actual GDP is less than potential GDP C. The economy is experiencing only frictional unemployment D. The natural rate of unemployment for the United States economy has risen 3. If the average level of nominal income in a nation is $44,000 and the price level index is 175, the average real income would be about: A. $18,857 B. $25,143 C. $44,000 D. $77,000 4. The unemployment rate in an economy is 7.5 percent. The total population of the economy is 250 million and the size of the civilian labor force is 180 million. The number of employed workers in this economy is: A. 13.5 million B. 15.7 million C. 166.5 million D. 174.6 million 5. In calculating the unemployment rate, "discouraged" workers who are not actively seeking employment are: A. Excluded B. Included C. Treated the same as part-time workers D. Used to determine the size of the labor force 6. The unemployment rate in an economy is 6%. The total population of the economy is 290 million, and the size of the civilian labor force is 150 million. The number of unemployed workers in this economy is: A. 6 million B. 9 million C. 12 million D. 24 million
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7. If a person's nominal income increases by 2% while the price level increases by 6%, the person's real income: A. Increases by 2% B. Increases by 6% C. Decreases by 4% D. Decreases by 2% 8. The view that unions may be a source of inflation would be best associated with the: A. Supply-shock view of inflation B. Cost-push view of inflation C. Wage-push view of inflation D. Demand-pull view of inflation 9. A statement that is often used to describe demand-pull inflation is: A. "A rising tide lifts all boats" B. "Money is easily earned, but not easily saved" C. "Too much money chasing too few goods" D. "There is no such thing as a free lunch" 10. Which is a correct statement? A. It is relatively easy to distinguish between cost-push and demand-pull inflation even if you don't know the source of the inflation
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This note was uploaded on 05/23/2010 for the course ECON 101 taught by Professor Keep during the Spring '10 term at Glendale Community College.

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Pre-Test Chap 26 e18 - Pre-Test Chap 26 e18 Student 1 Unemployment that occurs when there is deficient demand for the goods and services of an

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