plugin-PS_3 - Any typo or mistake is on me Any questions...

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Any typo or mistake is on me. Any questions, email me. [email protected] 1 Econ 103: Sec.05 Problem Set #3: Due on Tuesday 2 nd November 2010 Note: 1. Do it LOL. Do it independently . Do it carefully. 2. Write your answer on the answer sheet attached. I only collect answer sheets on Tuesdays. 3. Good Luck! 1. The deviation of unemployment from its natural rate is called a. the unnatural rate of unemployment. b. structural unemployment. c. frictional unemployment. d. cyclical unemployment. 2. The Bureau of Labor Statistics is part of the U.S. Department of a. the Treasury. b. Commerce. c. Labor. d. the Interior. 3. Who of the following would be included in the Bureau of Labor Statistics’ “unemployed” category? a. Tuuli, who is waiting for her new job to start b. Jyri, who worked only 15 hours last week c. Panu, who neither has a job nor is looking for one d. None of the above is correct. 4. Unemployment that exists because it takes time for workers to search for the jobs that suit them best is a. frictional unemployment, which contributes to the natural rate of unemployment. b. frictional unemployment, which does not contribute to the natural rate of unemployment. c. structural unemployment, which contributes to the natural rate of unemployment. d. structural unemployment, which does not contribute to the natural rate of unemployment. 5. The natural unemployment rate includes
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Any typo or mistake is on me. Any questions, email me. [email protected] 2 a. both frictional and structural unemployment. b. neither frictional nor structural unemployment. c. structural, but not frictional unemployment. d. frictional, but not structural unemployment. 6. Money is the most liquid asset available because a. it is a store of value. b. it is a medium of exchange. c. it is a unit of account. d. it has intrinsic value. 7. When an economy uses silver as money, then that economy’s money a. serves as a store of value but not as a medium of exchange. b. serves as a medium of exchange but not as a unit of account. c. is fiat money. d. has intrinsic value. 8. Mia puts money into a piggy bank so she can spend it later. What function of money does this illustrate? a. store of value
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This note was uploaded on 02/08/2011 for the course ECONOMICS 101 taught by Professor June during the Fall '08 term at Rutgers.

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plugin-PS_3 - Any typo or mistake is on me Any questions...

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